Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
Infosys CEO Vishal Sikka on Wednesday said the founders of India's second largest IT services firm Infosys still remain committed to the firm and the sold stock will be used for philanthropic purposes.
He becomes 2nd Indian to win this award; N R Narayana Murthy won it in 2003.
Faced with a spate of senior-level exits, Infosys co-founder N R Narayana Murthy has written to employees to reassure them that the "leadership changes" will be in the "best interest" of the company.
LIC, the biggest institutional investor in the stock market, held 3.71 per cent stake in Infosys during the October-December quarter, which has fallen to 3.25 percent as of March 31, 2014.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
Asked about his relationship with the founders, Sikka said: "My relationship with the founders? It is wonderful. I meet Mr Murthy quite frequently...I have always had a heartfelt warm relationship with Mr Murthy, probably meet him 4-5-6 times a year."
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
Infosys' spending on research and development has registered a decline.
The company's net profit stood at Rs 2,875 crore (Rs 28.7 billion) in the same period last year.
Donation to go to Sarojini Damodaran Foundation and Advaith Foundation
He may make a comeback as co-chairman at India's second largest software exporter.
In Parekh, an IIT-Bombay and Cornell University alumnus, Infosys may have finally found a person who will grab the market opportunity with good execution.
Infosys, country's second largest software services firm, has not made any profit on government projects because of red-tapism and other issues, its co-founder N R Narayana Murthy said.
A lot of my decisions are based on idealism, says N R Narayana Murthy
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Former finance head Bansal, who left Infosys in 2015, has gone for arbitration over severance pay
Some companies are already seeking review of the new norms.
Recruitment from colleges should be done and local people be trained to add value to Indian companies, said Murthy.
While Infosys board gave a clean chit to the Panaya deal, Murthy stands firm on his allegations and said, 'sadly, it appears we will no longer know the truth'.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Firm's dented image following Sikka's exit could bring down revenues in the margin rich US market and force Infy to hire fewer Americans, as hiring locals in developed markets comes at a cost.
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.
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
IT industry always looks for talent with right technical capability, says Gopalakrishnan
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
Shares in Infosys Ltd rose as much 6.7 percent on Friday, after the company raised the lower-end of its fiscal 2014 dollar revenue growth guidance.
'Pravin Rao's commitment and contribution to the company has been immense, and his partnership over the past three years has been critical to the successes and growth of our company,' said Vishal Sikka, chief executive officer at Infosys.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
In our case, the reason for this downward revision of guidance is because there are clients where we have had one time hits because of ramp-downs and things like this, says the Infosys CEO.
The latest whistleblower complaint accusing him of pressuring finance team members to inflate profitability has come right out of the blue. There's another allegation that he made racist remarks against some board colleagues. For a man with a singular focus on the business and clients, all of this must have blindsided him.
In the past two years, Sikka has brought in new measures by putting project managers to pitch how they cut time, saved costs and improved productivity
The settlement with Sebi was seen as Infosys admitting guilt of the lapse, clearing out any legal or regulatory challenges and preparing ground for new chief executive officer Salil Parekh.
Rao, in his letter, appealed to employees to stay the course, focusing on execution and expanding the services that the company had built over the past few years.
Murthy's letter comes even as Sikka celebrates the completion of three years at the helm of India's second largest software exporter.
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