As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
The move to set up the UID Authority of India, under the aegis of the Planning Commission, is aimed at providing a unique identity to the targeted population of the flagship schemes to ensure that the benefits reach them, information and broadcasting minister Ambika Soni told reporters here after the Cabinet meeting.
Infosys' first non-founder CEO had been granted 232,329 RSUs at Rs 5 a unit.
India's second-largest information technology services provider, Infosys Technologies, has applied for a mere 405 visas till date for financial year 2009-10 - its lowest application count in recent years.
Infosys co-founder N R Narayana Murthy on Monday denied that he had withdrawn his concerns about governance lapses at the firm, saying the board has to address these "properly" and "full transparency should be displayed and people responsible for it should become accountable".
"The Board in its meeting... has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined," the company said in the regulatory filing.
Infosys HR head T V Mohandas Pai says "senior politicians" cutting across party and geographies call Infosys' top brass to recommend their candidates. While obliging these politicians their candidates are made to go through internal tests and "are hired only if they clear and satisfy our requirements."
The software major has plans to invest Rs 500 crore at Kolkata campus that will create employment for 5,000 professionals. The company is yet to get possession of 90 acres of land assured by the state government. West Bengal Chief Minister Buddhadeb Bhattacharjee on Thursday said that Infosys had shown apprehension about investing in the state following recent incidents in Singur where Trinamool Congress has been agitating against acquisition of farmland by the state governme
Infosys, the country's third largest software firm, on Thursday said it was undecided on going ahead with investment plans in West Bengal, where socio-political opposition has thrown Tata Motors' Nano project into uncertainty.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
Vishal Sikka who was made vice-chairman till his successor was appointed, also quit the board with immediate effect.
The whistleblower, claiming to be an employee working in the finance department, said he was submitting a 'whistleblower complaint' unanimously as the matter stated was 'volatile' and that he feared retaliation on disclosing the identity.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Infosys, however, cut 2017-18 revenue growth guidance to 5.5-6.5 per cent from 6.5-8.5 per cent in constant currency.
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
This time an anonymous whistleblower made an appeal to market regulator Sebi to probe an agreement made by the tech giant with some of its ex-directors.
Vani Kola, Karthee Madasamy, T V Mohandas Pai also invest in the media startup
Information Technology major Infosys Technologies on Monday said it will convert 16 million shares traded in India into American Depository Shares that would increase the float of its stock in the US stock market.
Infy to cast wide net in CEO search, may go back to 'alumni'
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
"Power to purchase its own equity shares or other securities by way of a buy-back arrangement has been included and provisions relating to nomination facility for shares by a shareholder have been inserted," the Infosys postal ballot notice, uploaded on the company's website, said.
Pai sought to look at the issue of founders raising questions as shareholder activism.
Pai said more and more people -- whether they are employees, or investors or others -- are coming to the conclusion that this Board has to go and a new one has to come.
He may make a comeback as co-chairman at India's second largest software exporter.
Infosys chief Vishal Sikka took home an annual salary package of $7.45 million (about Rs 48.73 crore) for the 2015-16 financial year.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
Nilekani has kept pace with technology advances, has been instrumental in digitalising the country, and is well-networked with the bureaucracy and global leaders
The board expansion comes against the backdrop of an ongoing tussle between the founders and the management over contentious issues such as CEO salary hike, severance package to former employees and corporate governance standards.
he Aam Aadmi Party will host a fundraising dinner in Bengaluru on March 15 during AAP chief Arvind Kejriwal's two-day visit to the city.
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Junking Murthy's claims, Infosys said the board did all it could to look into whistle-blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya.
'Where is the board's accountability in this whole transaction? The members of the earlier board who participated in approving and defending these acquisition are still in the current board,' the whistleblower said in a mail sent to US SEC and Sebi.
The clarifications came directly from the board of directors.
A day after she praised Rohan Murthy's performance at Infosys' board meeting, the firm's newly-appointed independent director and Biocon head Kiran Mazumdar Shaw on Wednesday apologised for the remarks.
Murthy, said Mohandas Pai, should focus on mentoring the next generation.
Infosys' co-founders, S D Shibulal and S Gopalkrishnan, on Tuesday launched Axilor Ventures, a business incubator and platform for supporting innovation and entrepreneurship.
Restricted stock units can be an effective tool to curb employee attrition and retain key talent
After news of KV Kamath stepping down as the non-executive chairman, Infosys is on the hunt for filling up the post.
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