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Infosys CEO Accused Of Fraud

Hello guys, In this post, we are going to talk about an Indian IT company CEO for their uethical practices for some time in the company. CEO Salil Parekh accused of fraud in Infosys.

Infosys Limited is an Indian multinational corporation. The company offers business consulting, information technology and outsourcing services. It has its headquarters in Bangalore, Karnataka, India.

The latest news comes from the side of Infosys, an ethical group of employees of Infosys complained to U.S. Securities and Exchange Commission (SEC) and the Infosys’ board about some unethical practices of the company's CEO  Salil Parekh to boost some short term profit and revenue. The ethical group confirmed that they have some proof in the form of recording that shows Infosys indulging in such practices.

The Email delivered to USE and board noted on date September 20, 2019, while other email had been sent to the U.S. Labour Department’s Office of the Whistleblower Protection Program enclosing “documentary evidence".  “We have not sent to the company as our identity would be revealed,” the e-mail to the U.S. Labour Office said.

The complaint shows that Mr. Parekh neglected reviews and approvals for large deals. A Financial Newspaper reported that the complaint alleges that Mr. Parekh managed his key employees to make “assumptions” to show margins. There are some chances of  CFO was complicit in the bad practices, many billion-dollar deals in the last few quarters which has no much margin or we can say nil until these deal signed... 

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