New Delhi: Dismissing reports of a Securities and Exchange Board of India (Sebi)-ordered forensic audit of company’s books, Infosys Ltd on Friday said it has not received any such order from the markets regulator.
“The company continues to cooperate with regulatory authorities. The Company has not received any request from Sebi to conduct further audits as reported by media on January 23, 2020." Infosys said in a filing to the exchanges.
At 14.21 pm, shares of Infosys Ltd were down 0.6% at ₹779.75 apiece on the BSE.
According to a Mint report, the markets regulator is set to order a forensic audit into Infosys Ltd’s books following whistleblowers’ allegations that its top executives were involved in financial irregularities. The development comes after an internal audit committee of Infosys Ltd, on 10 January, concluded that whistleblower allegations about financial irregularities at the Bengaluru-based information technology company were substantially without merit.
In October, a letter, claimed to have been written by some employees of the company, had said chief executive Salil Parekh asked them and others to bypass approvals for large deals fearing a negative impact on shares from reduced profit.
The whistleblower allegations, which first became public on 22 October, revolve around anomalies in visa costs, large deals, reversal of certain provisions, and non-disclosure of key information, among others. Infosys had appointed law firm Shardul Amarchand Mangaldas to investigate these claims.