National
Infosys ex-Chairman Seshasayee lied to shareholders, says Murthy
Bengaluru, Aug 29 (IANS) In a strong rebuttal to the personal attacks on him by the previous Board of software major Infosys, Founder N.R. Narayana Murthy on Tuesday alleged that its former Chairman R. Seshasayee had lied to the company’s shareholders at its 33rd Annual General Meeting (AGM) here on July 24.
“In the AGM, Seshasayee lies about the reason for payments made to the ex-CFO (Chief Financial Officer Rajiv Bansal) claiming it was made in consideration of his (Bansal) long service and to protect the company from its secrets being compromised,” said Murthy in a statement to global institutional investors in a conference call from here.
“In reality, it was paid to protect to the secrets of the CEO and the Board,” he said, 10 days after the previous Board blamed him for the resignation of the company’s first non-founder CEO Vishal Sikka on August 18.
Seshasayee resigned from the Board on August 24, paving way for the return of co-founder Nandan Nilekani as the non-Executive Chairman in his place.
Previous Board Co-Chairman Ravi Venkatesan also resigned along with Independent Directors Jeffery S. Lehman and John Etchemendy.
Seshasayee, 69, who has been an Independent Director on the Board since January 2011, was appointed non-Executive Chairman on June 5, 2015 after incumbent K.V. Kamath resigned to head the BRICS New Development Bank. Earlier, Seshasayee was Managing Director of Hinduja Group’s Ashok Leyland in Chennai for over a decade.
Charging that the previous Board did not record minutes of the severance pay to Bansal at the time (October 2015) the decision was taken, Murthy said his concern was dismissed by Seshasayee as a mere “housekeeping” matter.
“So much for good governance! During every interaction with the Board, my colleagues and I have requested them to make public to all shareholders the full truth on this matter. It gets curiouser and curiouser – as Lewis Carroll said in 1865,” reiterated Murthy.
On February 12, 2017, a whistle-blower complaint became public, questioning in detail, the events surrounding the severance payment made to the ex-CFO with alleged actions of the Chair of the Board, CEO, COO, General Counsel and Chief Compliance Officer, as well as the ex-CFO.
“To me, what was most worrisome was the failure of governance at Infosys in this episode as alleged by the whistle-blower,” said Murthy.
Clarifying that the allegations were that of the whistle-blower and not his, he said it was surprising to hold him responsible for Sikka quitting for raising questions on corporate governance.
“The very Board members to whom I have put forward questions on their governance deficit have instead misdirected it towards the CEO, perhaps to avoid answering my questions,” he added.
–IANS
fb/vd
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
