Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
'Raghuram Rajan's contribution to the country's economy is "exemplary" and he would always be remembered for his outstanding work.'
Infosys new chief executive officer and managing director Vishal Sikka took charge of the company in August.
The company has pointed at the possibility of fines and financial penalties.
The government must undo the damage inflicted by the flawed policies of globalisation, and India should be converted into a country where entrepreneurs can thrive and the entire population can participate in the economy, says Arvind Kumar.
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.
Some companies are already seeking review of the new norms.
There has not been a single invention from India in the last 60 years that became a household name globally, nor any idea that led to "earth shaking" invention to "delight global citizens", IT czar N R Narayana Murthy said.
Donation to go to Sarojini Damodaran Foundation and Advaith Foundation
The results will give an indication whether Nilekani would continue with the software plus services strategy adopted by Sikka, or tweak it to reflect his worldview of the explosion in data.
Stating that he has no intention to become CEO of the company, he said the future strategy of Infosys will be aligned with global developments and he sees tremendous opportunity in software data and machine learning.
The new chairman of the country's second-largest IT firm acknowledged that he is an "admirer" of Murthy, saying the "iconic visionary" is the father of corporate governance in India.
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.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
Last week, its global head of strategic sales, marketing and alliances Prasad Thrikutam resigned from the job marking the 11th senior management executive exit from Infosys since Murthy's return.
Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker.
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Revenue of the Bengaluru-based firm grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period.
Infosys Head India Business Unit C N Raghupathi said for the manufacturing sector, the key areas to focus on include new product innovation.
Nandita Gurjar, Sanjay Purohit and Gautam Thakkar among "potential exit candidates".
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
IT industry always looks for talent with right technical capability, says Gopalakrishnan
Praising Delhi Chief Minister Arvind Kejrival for some of the work he has done, Infosys Executive Chairman N R Narayana Murthy on Thursday said the Aam Aadmy Party leader needs to be reasonable with business.
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It has also informed the Bombay Stock Exchange that the Board of Directors of the Company at its meeting held on October 10, 2014, inter alia, has declared interim dividend of Rs 30 per equity share. The interim dividend declared in the previous year was Rs. 20 per equity share.
Infosys has been struggling to revive high growth for two years.
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A letter issued on Monday was jointly addressed to the US commerce secretary and trade representatives.
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.
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
India has made a remarkable journey from a top-down system of economic decision-making to one that unleashed our entrepreneurial spirits but the next big jump lies in enhancing the quality of our tale.
'If Indians are as smart as their counterparts in university, and have equal opportunity, then what is the reason that we cannot produce inventions of quality that are recognised by the world?'
His global experience, deep business acumen and long association with the Tata Group will prove invaluable in his new role: ICICI Bank MD and CEO Chanda Kochhar.
Infosys as working on becoming "independent of the visa issue" as much as possible and hire more locals
Infosys, as part of performance improvement programme, allows 'poor performers' to undergo training to get into shape.
Infosys added 10,997 employees (gross) in the last quarter of FY'14 and 39,985 during the fiscal to take its total headcount to 1,60,405 people.
'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.
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.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
The city-based firm had witnessed exits, especially of senior level executives, in the last couple of years and one of the main tasks before Vishal Sikka when he took over as the chief executive officer last year was to check the high attrition levels.
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