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Infosys accused by whistleblowers of 'unethical' practices to boost numbers, says report

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Infosys accused by whistleblowers of 'unethical' practices to boost numbers, says report

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Infosys has been accused of indulging in “unethical” practices to boost its short-term revenues and profits by a group comprising of anonymous employee of the IT giant describing themselves as “ethical employees.”

Infosys accused by whistleblowers of 'unethical' practices to boost numbers, says report
Infosys has been accused of indulging in “unethical” practices to boost its short-term revenues and profits by a group comprising of anonymous employee of the IT giant describing themselves as “ethical employees.” The group has filed complaint with the Infosys board and the US Securities and Exchange Board (SEC), reported the Economic Times, adding that the whistleblowers have emails and voice recordings in evidence of their claims.
Infosys CEO Salil Parekh has been accused of bypassing reviews and approvals for large deals. “He (Parekh) directs them to make wrong assumptions to show margins,” the Economic Times quoted from the letter sent by the employees.
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Responding to the development, Infosys in a statement has said that it has placed the whistleblower complaint before its audit committee as per the company norms.
“The whistleblower complaint has been placed before the audit committee as per the company’s practice and will be dealt with in accordance with the company’s whistleblowers policy,” the statement said.
The whistleblowers' letter to the Infosys board was sent on September 20 while the one to the SEC is dates September 27, before a follow up on October 3.
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