Infosys co-founder N R Narayana Murthy on Monday denied that he had withdrawn his concerns about governance lapses at the firm, saying the board has to address these "properly" and "full transparency should be displayed and people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".
Murthy's charges, he said, are patently false and slanderous.
Murthy said he was anguished by the allegations, tone and tenor of statements made by the Infosys board.
Most Indian IT firms work as system integrators for Huawei and though the exposure is very less as of now, the potential is more due to 5G roll out. As pressure to keep the Chinese firm out of the 5G network grows, other global firms, including Japan's NEC, South Korea's Samsung, Finland's Nokia and Sweden's Ericssion are increasing their investments to grab more market share in the telecom sector.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
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.
Pai sought to look at the issue of founders raising questions as shareholder activism.
Hobbled by the European crisis, countries like France and Germany who once fiercely resisted offshoring IT jobs are increasingly doing so, sending coveted contracts India's way.
Among the chief financial officers, TCS' Sethuraman Mahalingam has been named the best in the country and is followed by Infosys' Vibin Balakrishnan.
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.
Abidali Neemuchwala, who had joined Wipro in 2015 as group president and chief operating officer, was also given 200,000 in stock options in the financial year ended March 2016.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
'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.
Wayward employee behaviour at Uber and Infosys highlights the risk to corporate reputations.
'Vishal Sikka may have realised that he was in no position to deliver on the promise Infosys made to its shareholders.' 'Perhaps he was looking for an escape route and he quit under the cover of "continuous drumbeats of distractions",' says Sudhir Bisht.
Indian IT firms have been announcing incremental increase in billing rates for quite some time now to counter wage hikes and rising visa costs, to name a few.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
According to outsourcing advisors and experts, while almost half of the deals are likely to see delay, the others are expected to be renewed at a lower price as enterprises ask for discounts in roll-over contracts.
Over 100,000 members have joined the party's state unit, says Praveen Bose
Why top executives are trading cushy jobs for start-ups
Other income stood at about a quarter of PBIDT in the first 9 months of 2013-14
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Half of the people earning between Rs 30 lakh and Rs 70 lakh will lose their jobs in next 10 years.
'The big thing is on the works on Zero Distance, the initiative to bring innovations in every project.'
For the full 2016-17, Wipro's profit fell nearly 5 per cent to Rs 8,518 crore while total income grew 7.4 per cent to Rs 57,995 crore compared to the previous fiscal.
Investor sentiments remained upbeat tracking global developments as the US, China geared up for trade talks due this week.
Sebi found that on average, the remuneration paid to CEOs in certain Indian companies are far higher than the remuneration received by their foreign counterparts.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
Now mergers, acquisitions, sale of assets, fundraising, strategic intent and competitive position in the market are part of business life everywhere.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
'Children should be brought up connected to our culture and should be introduced to characters from our mythologies. What is this Baa Baa Black Sheep?'
Most companies often subsidise the sale and the delivery, making losses on their books.
When it comes to key hands-on management positions, India Inc is still largely run by men.
'Over the next 10 years we expect more than 100,000 new start ups to come up and create more than $500 billion in value and 3.5 million to be employed in these start ups.' 'And these are the start ups that will be solving India's problems.'
'Indians are great savers, but they are lousy investors.'
Foreign investors are betting top dollar on the country as growth is likely to recover at a time when other emerging markets are battling macroeconomic adjustments.
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