Infosys' audit committee looking into anonymous complaints

Infosys today said its audit committee has taken up the anonymous complaints sent to market regulator Sebi and a section of media and will be probing the allegations as per the company policy.

"The whistle blower complaints have been placed before the audit committee and as is normal practice, in accordance with the company's whistle blower policy, the audit committee is taking steps to initiate an investigation into the allegations made," Infosys said in a BSE filing.

Earlier this week, an anonymous letter was sent to the Securities and Exchange Board of India (Sebi) and the US Securities and Exchange Commission alleging that the Israel-based Panaya acquisition was overvalued and that some Infosys executives may have benefitted from the deal.

Infosys, however, has denied the allegations and said no member of its management team was involved in prior investments in Panaya.

Infosys CEO Vishal Sikka had termed as "false and malicious" the stories and said the reports were "designed" to target him to the "point of harassment".

In a strongly worded email to Infosys employees, Sikka said the reports questioning the company's acquisition of Panaya are "orchestrated by people who are hell-bent on harming the reputation of the company and its employees".

In February 2015, Infosys had announced buying the Israeli automation technology company for USD 200 million or Rs 1,250 crore in cash.

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