Having nurtured Infosys for the last three decades, Narayana Murthy would be succeeded by eminent banker K V Kamath as Infosys' Chairman with effect from August 21.
The Income Tax Department has slapped a tax demand of over Rs 450 crore (Rs 4.5 billion) on software giant Infosys Technologies for wrongfully claiming tax exemption on onshore services by declaring them as software exports, Parliament was informed on Friday.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
The proposed campus will come up on around 125 acres, which the company will acquire from airport authorities, and would house as many as 3,000 employees.
The lawsuit pointed out that the plaintiff's experience with Infosys demonstrates the 'discriminatory nature of Infosys' employment practices'.
"Performance management tools have been always used by companies to reward good performers and weed out the bad ones. However, due to the significant growth over the last few years, they were not enforced. With the industry facing the economic downturn, it is using this tool fairly effectively. And it is being done all over the world," explained Som Mittal, president of software body Nasscom.
Infosys has asked the West Bengal govt to give them land or repay the token amount the former had paid earlier.
Oil, banks eneded the day in green while few in auto sector lost heavily.
The funds raised by employees were matched by an equal contribution from Wipro.
India's second largest software services firm, Infosys on Thursday saw the exit of its global head of strategic sales, marketing and alliances Prasad Thrikutam.
Investing in special situations can help you tap opportunities that arise during adverse conditions, advises Joydeep Sen.
In another senior-level exit from Infosys, Humberto Andrade had quit as head of the company's Latin America business process outsourcing (BPO) operations to join rival Capgemini.
Theresa May's visit to a Bengaluru aerospace systems supplier is seen as the UK's strategy to pursue new defence deals.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
The company seeks floor area ratio of 3, against the permitted 2, from Uttar Pradesh.
Infosys Technologies has won the prestigious Global MAKE (Most Admired Knowledge Enterprises) award for the year 2004.
A selection of Indian corporations are cutting costs and contributing to a green economy by embracing clean fuel and India Inc sees a strong business case in adopting renewable energy to power their operations.
A selection of Indian corporations are cutting costs and contributing to a green economy by embracing clean fuel and India Inc sees a strong business case in adopting renewable energy to power their operations.
Over the past few months, Infosys has been battling allegations by Murthy and other former senior executives of falling corporate governance standards.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
Infosys has been aggressively embracing automation tools.
Investors are already factoring in the impact. The IT Index on the BSE exchange dipped 2.5 per cent, with Infosys, Wipro and TCS showing a decline.
In the seventh top level exit in six months at Infosys, Subrahmanyam Goparaju, Senior Vice President and a member of the Executive Council that frames business strategy, has resigned.
US is the largest market for the over $140 billion Indian IT services industry
Company says faults, which were noticed soon after system upgrade on March 27, have been rectified
Some analysts believe underperformance of the TCS stock may continue.
The company's executive vice president and chief financial officer Rajiv Bansal has resigned.
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
'There are enough LGBTQ people in the industry, so I don't feel like a misfit.'
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
'After some time, they all want to know what is happening in their companies.' 'It is better they remain board members rather than talk outside.'
But Indian information technology workers might do better without the companies that held them back, says Mihir S Sharma.
Analysts say no pressure on new CEO for immediate results.
Nikita Puri and Dhruv Munjal explain why new-age businessmen are turning to exclusive, uber-rich clubs.
Analysts say the company remains on a firm footing, stake sale by the founders will not impact fundamentals.
'The Aam Aadmi Party is the most successful and exciting start-up by an IIT-ian in the history of India,' former Infosys CFO V Balakrishnan tells Rediff.com's Vicky Nanjappa.
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