IT services major Infosys has said wife of one of its co-founder Nandan Nilekani, Rohini Nilekani has raised about Rs 163.58 crore by selling 5.77 lakh of her shares of the company for philanthropic work.
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Rahul Gandhi on Tuesday launched a scathing attack on the government on the issue of intolerance telling it not to learn the "wrong lessons" from the Pakistan.
Rahul is fascinated by history and ancient texts
Will Murthy's return change the fortunes of Infosys? If yes how soon will the table be turned?
The report published by an English daily said the promoters wanted to sell their entire stake as they were unhappy over the manner in which the company was being run.
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.
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.
Infosys co-founder Narayana Murthy has singled out "erroneous policies" pursued by successive governments at the Centre.
The conversion facilitated range enhancement and improvement in Pinaka's accuracy.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
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 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.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
Seshasayee has been an independent director on the company's board since January 2011.
'Indian companies has a responsibility to create jobs for Americans, too'
Infosys was the worst performer among the bluechips on both the key indices.
Murthy said he was anguished by the allegations, tone and tenor of statements made by the Infosys board.
Global investment is agnostic when it comes to nationalism, says Kanika Datta.
Exuding confidence in Narendra Modi's leadership, IT industry veteran NR Narayana Murthy today said the new Prime Minister is "in a position to change the course of dialogue" on US visas for the over $118 billion industry.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
The reduction in holdings comes at a time when technology firms are facing cross currency headwinds due to volatility in the global financial markets
The work environment has definitely changed at Infosys after the return of NR Narayana Murthy, reports Vikash Nanjappa
Analysts say the company remains on a firm footing, stake sale by the founders will not impact fundamentals.
Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
As the second phase of polling commenced on Thursday amid heightened security, bigwigs came out to cast their votes for constituting the 17th Lok Sabha. Among those who took to their respective polling booths were former Finance Minister P Chidambaram, actor-turned-politician Rajinikanth, BJP candidate from Bengaluru South Tejasvi Surya, and defence minister Nirmala Sitharaman, among others.
Weeks after NR Narayana Murthy returned to Infosys, the country's second largest software exporter on Tuesday saw its global sales and marketing head Basab Pradhan quitting the company.
In his blog, sikka said, "It is clear to me that despite our successes over the last three years, and the powerful seeds of innovation that we have sown, I cannot carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks."
I have no hesitation to say that the cultural milieu is different, said chairman R Seshasayee in a rare media interaction.
After his retirement from Infosys last year, Gopalakrishnan has been active in philanthropy, science and technology
Mr Tata said a letter had arrived in his office from a young woman who had applied for the graduate engineering programme of TELCO Pune and been turned down. 'I wouldn't interfere with your selection process, Maira,' he said. 'However, I am calling you because this lady says that her rejection letter says that though she is very well qualified for the programme, TELCO Pune cannot select her because she is a woman.' 'Why are you discriminating against women?' he asked. A must read excerpt from Arun Maira's The Learning Factory: How The Leaders Of Tata Became Nation Builders.
Last November, a lawyer for Future Retail Limited (FRL) told Delhi high court that Amazon is interfering with its lawful business and thousands may lose their jobs and FRL may go bankrupt. Senior advocate Harish Salve, who appeared for FRL, likened Amazon to East India Company. Senior advocate Gopal Subramanium, who represented Amazon, told the Future counsel to keep the "East India Company" rhetoric aside, as Amazon has invested $6.5 billion all over India and created 900,000 jobs. This drama played out in the case in which Amazon has challenged Future's $3.4-billion deal with Reliance, alleging the retailer's deal breached an agreement with the American e-commerce firm.
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.
Infosys has opened a new Sydney branch office to keep pace with business growth of more than 500 per cent in New South Wales over the past five years, the company said in a statement.
Pratt, who joined the firm in 2004, has left the company to start his own entrepreneurial venture.
While a three-year tax holiday and relaxation of capital gains for funds have been received favourably, others argue that not enough has been announced.
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.
The industry is looking at a promising 2016, though experts and even the investors anticipate correction on the valuation side
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