Infy Board👔 Member: Admit to ❌Procedural Lapses, Want to Pay 💰Fine

  |   India News

Infosys board member Kiran Mazumdar-Shaw on Saturday noted that former company chairman R Seshasayee had admitted procedural lapses in the matter of the severance pay to former CFO Rajiv Bansal and had apologized for it at the last annual general meeting.

She said Infosys' settlement application to SEBI, made last week, was to pay a fine for the unintended procedural lapses.

Mazumdar-Shaw tweeted this on Saturday in response to a tweet from a person who describes himself as an equity investor and who asked for her resignation from the board following the Infosys application. Some have viewed the application as an admission of guilt that the company has hitherto not admitted to.

On Sunday, former Infosys board member Mohandas Pai once again entered the discussion on the matter, disagreeing with the Infosys whistleblower's demand on Saturday that Sebi should take exemplary action against the company.

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