• Infosys loses ₹53,000 cr in value on whistleblower claims against CEO

    Infosys loses ₹53,000 cr in value on whistleblower claims against CEO

    Published Date : 22-Oct-2019 3:29:38 IST

    Infosys lost ₹53,000 crore in market value after anonymous whistleblowers accused CEO Salil Parekh of “unethical practices” to boost short-term profit. Shares of the IT giant tanked as much as 16% on Tuesday, its biggest intraday fall since April 2013. Employees were asked not to fully recognise costs like those for employee visas to improve profits, the whistleblower letter alleged.

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