Credit quality of Indian corporate is expected to be stable in the second half of the current financial year (H2FY26), supported by easing monetary cycle, and declining inflation, coupled with income-tax relief and rationalisation of the goods and service tax (GST) rates, among others.
MIT leadership said that they stand by the punishment they issued to Vemuri.
Vemuri holds about 400,000 shares in IGATE which, at an offer price of $48 apiece, will give him $19.2 million
Most high-profile exit since co-founder Narayana Murthy returned to the helm.
He will get annual base salary of $1.3 million apart from bonus.
The French IT services company had said it would buy IGATE for $ 4 billion in an all-cash deal.
Infosys Technologies will soon induct two of its top executives to its board, to fill the vacancies left by the resignations of human resources and administration director Mohandas Pai and co-founder K Dinesh.
The exit of Ashok Vemuri, board member and head of the Americas and manufacturing at Infosys, seems to have shaken the company's much-prided succession plan.
All were released on $250,000 bond, the Department of Justice said.
The company had sacked former chief executive officer Phaneesh Murthy in May this year over an undisclosed relationship with a subordinate.
Within six months of joining iGate as CEO, Ashok Vemuri will get a performance bonus of $175,000 (about Rs 1.10 crore) for his strategic initiatives, which helped the US-based outsourcer grow revenues by over 10 per cent in the December quarter.
In yet another high profile exit at Infosys, India's second-largest information technology (IT) services company, Ashok Vemuri, head of operations (Americas) and global head (manufacturing and engineering services), has resigned.
The changes are effective from April 1, the NASDAQ-listed IT major said in a statement.
iGate Corp, the Nasdaq-listed information technology (IT) services company, on Thursday posted better-than-expected numbers for the quarter ended September 30, backed by impressive performance by some of its key verticals such as banking, financial services & insurance (BFSI), manufacturing and health care.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
Balakrishnan, head of the BPO, Finacle and India business units at Infosys, is widely seen as a contender for CEO after the incumbent S D Shibulal's term ends in 2015.
Pune boy successfully swims 71-km stretch
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Nilekani is an organised person and his strength is simplification of complex ideas, said Murthy.
After high-profile exits in the past couple of months, Infosys, the country's second largest information technology services company, has undertaken a top-level management restructuring.
In another significant senior-level realignment at Infosys, V Balakrishnan, one of the two internal candidates being considered for the chief executive's post, has been given additional charge of the new utilities and resources vertical.
iGate has been reorganising its structure and analysing client accounts to enhance cost efficiency and scale operations.
Company appoints Parvatheesam K as compliance officer.
Calling Infosys' performance in 2013-14 "stellar", "laudable" and "creditable", the co-founder said the task ahead was "simple to state": Achieve sector-leading growth.
There's a churn in Infosys' highest paid senior executives' list for financial year 2007-08, with Nandan Nilekani, S Gopalakrishnan and S D Shibulal conspicuously missing from the top five.According to a filing by IT bellwether to the US Securities and Exchange Commission, B G Srinivas, Ashok Vemuri and T V Mohandas Pai were the highest paid executives in FY08.
For the September quarter, the company reported 16.92 per cent year-on-year growth in net profit, at $37.3 million.
Between 2000, when Steve Ballmer became the chief executive officer of Microsoft, and now, when he has announced his retirement, the company's earnings have more than doubled and its revenues have increased over three-fold.
Infy to cast wide net in CEO search, may go back to 'alumni'
Even though the company's revenue figures are not public, it has so far raised $93 million in four rounds of funding.
Going ahead iGate will have to maintain a healthy order book to sustain growth.
Pratt, who joined the firm in 2004, has left the company to start his own entrepreneurial venture.
A lot of my decisions are based on idealism, says N R Narayana Murthy
Already facing an exodus of top management, Infosys is also struggling to retain talent at mid and junior levels, with 1,823 people leaving the firm in the October-December quarter.
US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
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.
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.
Nandita Gurjar, Sanjay Purohit and Gautam Thakkar among "potential exit candidates".
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances