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Company News

India's Infosys says no prima facie evidence on whistleblower complaints

BENGALURU, Nov 4 (Reuters) - Indian IT services major Infosys Ltd said on Monday it found no evidence to prove the allegations in a whistleblower letter from last month, sending shares up 5% in morning trade.

In a letter to the National Stock Exchange dated Nov. 2, the company said the anonymous complaints were still under investigation and it was not in a position to determine “concreteness, credibility and materiality of complaints.”

Infosys said last month that the U.S. Securities and Exchange Commission (SEC) had launched a probe into whistleblower claims that the Indian software services firm used ‘unethical practices’ to boost revenue and profit. (Reporting by Derek Francis in Bengaluru; Editing by Rashmi Aich)

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