The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
"The response (to the PMGKY) has not been so good...about Rs 5,000 crore of income was declared in PMGKY," Revenue Secretary Hasmukh Adhia said.
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
Robbed ornaments worth over Rs 50 lakh has also been recovered from the possession of the accused who was arrested from Madhya Pradesh, officials said.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
The Punjab Police on Thursday arrested the second shooter involved in the killing of Shaurya Chakra awardee Balwinder Singh Sandhu last year.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Supreme Court has posed a question to Mallya about the truthfulness of his disclosure of assets and transfer of $40 million to his children
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack. The report noted that issues remain in IPO companies in which there seems to be a need to institutionalise governance practices.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
Gearing up to ensure greater compliance by companies to listing agreement, NSE is planning to increase its headcount to bring in more efficacy in its oversight role as a front-line regulator of the securities market.
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
However, 157 investors managing a total of $14.2 trillion were taking first steps towards addressing climate change
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
Nandan Nilekani said the co-founders have served the company "selflessly" and remain committed to the long-term success of Infosys.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
CII believes there is a need to immediately examine the loopholes in regulation, accounting, audit and governance that allowed such lapses to occur and address them with urgency. While the occurrence of such events in a major company is a matter of deep regret, CII believes it would be inappropriate for this to be the basis of questioning of general governance standards in other companies.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
Pelosi told The Washington Post, "Impeachment is so divisive to the country that unless there's something so compelling and overwhelming and bipartisan, I don't think we should go down that path, because it divides the country. And he's just not worth it."
Corporate giant Reliance Industries Ltd has stopped lobbying with US lawmakers for the last two quarters, while the Indian government incurred an expense of Rs 3.7 crore (Rs 37 million) for such activities during the last financial year ended March 31, 2012.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
The markets regulator made it easier for banks to acquire control in listed companies.
'IPOs not clicking is cause for worry,' says Sebi chairman.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The central government should provide for free vaccination to all Indian citizens and greatly ramp up RT-PCR testing in both rural and urban areas, a group of former civil servants said on Thursday in an open letter to Prime Minister Narendra Modi.
Hearing an appeal against the market regulator's denial of information sought through Right to Information Act, the Appellate Authority has ruled the process relating to grant of recognition of MCX-SX in 2008 has been completed.
'The Central Public Information Officer is not required to furnish information which requires drawing of inteference and/or making of assumption, or to interpret information, or to solve the problem raised by the applicant, or to furnish replies to hypothetical questions. 'The Information sought does not come under the definition of information as defined in Section 2(f) of RTI Act, 2005. The CPIO has no specific information to provide (sic),' it said.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Although it is mandatory for companies to file quarterly figures along with annual results with stock exchanges, some companies had only been filing annual numbers.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
The agreement on sharing of financial information is a distinct and welcome break from its trend.
