InGovern, a proxy advisory firm, has said the whistleblowers’ allegations against Infosys are specific in nature, and the audit committee needs to investigate and give investors the correct picture.
Shriram Subramanian, MD, InGovern, said the last time, there was not much depth to the whistleblower’s complaint. But this time, there are specific complaints. “No two ways about it. It calls for urgent and express action,” he said.
He said if there are accounting irregularities, then the board should take note of it. “Investors expect best practices from Infosys,” he added.
Read: Here is the text of the whistleblower's letter to the Infosys Board and to the US SEC
Another proxy advisory firm, SES, said that companies are under extreme pressure to come out with better results quarter after quarter.
“Infosys did not make any major changes in the board in spite of several allegations earlier,” J. N. Gupta, a co-founder and MD, Stakeholders Empowerment Services, said. “It is important to know the truth but going by the allegations made in the mail, it is quite clear that Infosys should conduct a thorough probe,” he said.
