Securities Law News

Infosys Whistleblowers Allege ‘Unethical Practices,’ Shares Fall

Oct. 21, 2019, 2:28 PM

An anonymous whistleblower complaint alleging that Infosys Ltd. Chief Executive Officer Salil Parekh made the finance team use irregular accounting practices to shore up profits has stirred up things again at the once-beleaguered firm.

The letter addressed to the Infosys board and published by the Deccan Herald newspaper charged Parekh of “unethical practices” in recent quarters to boost “short term revenues and profits,” the whistleblowers wrote in a note titled “Disturbing unethical practices.” The note signed “Ethical Employees” asked the board to investigate and take immediate action. They can provide email copies and voice recordings to support their charges.

Salil Parekh
Photographer: Samyukta Lakshmi/Bloomberg
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