Wipro delays filing annual report in US

Wipro delays filing annual report in US

Bangalore: India’s No. 3 software firm Wipro Ltd said it expects to delay filing its annual report for fiscal 2010 with the United States regulator due to an investigation into alleged embezzlement by one of its employees.

Wipro, which was due to file its annual report with the US Securities and Exchange Commission by Sept. 30, now expects to do it by 10 November on completion of the investigation, the company said in a statement over the weekend.

Earlier this year, Wipro had said one of its employees had allegedly embezzled cash for three years from November 2006.

Wipro said it had recovered most of the money, but did not give the amount.

Wipro has already filed its financial statements under Indian laws for the year ended 31 March and the quarter ended 30 June.