The abrupt exit of Infosys BPO chief executive officer (CEO) and chief financial officer (CFO) has raised further questions on the procedures and financial controls at India’s second-largest IT services exporter, according to an anonymous e-mail sent to media houses here. The e-mail claims that the issue relating to over-billing of Infosys BPO customer — Apple — over a period of 18 months had the oversight of the top management.

Infosys on Tuesday announced the termination of the services of Abraham Mathews, chief financial officer (CFO) of its business process outsourcing (BPO) subsidiary, for non-compliance with the model code of conduct. The company also said Gautam Thakkar, chief executive officer of Infosys BPO, had quit, taking moral responsibility for the incident.

While Infosys did not elaborate on the said violation, sources close to the development said Mathews had failed to bring to the company's notice financial irregularities at one of its BPO centres. They added Mathews wasn't directly involved in the irregularities, but had failed to report the incident.

Software major Infosys has entered into a strategic partnership with DreamWorks Animation SKG to develop new engineering solutions.

The tie-up envisages developing next generation technologies with our global talent pool in cloud, big data, Java and open source platforms for DreamWorks, the IT bellwether said in a statement on Saturday.

Benchmark indices have come off day’s high and are trading in a narrow range amid positive bias with Sensex and Nifty hovering around 27,900 mark and 8,350 levels, respectively.

Index heavyweight shares like ITC and Infosys are trading lower on account of profit taking whereas rate sensitive shares are witnessing some buying demand.

The government of Karnataka rushed into a series of decisions on Thursday to get Infosys, the information technology (IT) giant, to retract its decision to withdraw from the upcoming Devanahalli IT Park near the international airport.

Chief Minister Siddaramaiah chaired a meeting at his home office and directed urgent taking up of the required infrastructure work, including development of four-lane roads, water pipelines and supply of 200 Mw electricity to the project.

Infosys, India's second-largest information technology (IT) services company, has launched a major recruitment drive in the US, where it plans to hire about 2,100 people - both experienced and freshers, over the next 12 months.

The company said it would add 1,500 professionals in its largest market across consulting, sales and delivery functions by March 2015, while it would bring on board close to 600 graduates and postgraduates from US universities over the next one year.

A group of women employees at Infosys, India's second largest information technology (IT) services company, has brought charges of sexual harassment against a senior executive of the company. In a mail sent from an unidentified email ID, they said the board of directors was "hushing up the whole case", though the charges are serious.

A new management at the helm and a strategy in place, Infosys, India's second-largest information technology (IT) services company, is taking a relook at the way it allies with academic institutions.

The Bengaluru-based company, which traditionally engages with international and Indian universities for research and setting up of chairs in subjects, is seen exploring ways to take these partnerships to the next level by seeking joint business opportunities.

Benchmark indices are trading weak after paring early morning gains, ahead of a truncated trading week, with gains in information technology and metal shares offsetting some of the losses posted by auto and consumer durable shares.

At 10:30 AM, Sensex was down 17 points at 26,849 while Nifty was down 9 points at 8,313. In the broader market, BSE Mid cap and Small cap indices have gained around 0.8% each. Market breadth is positive with 1,408 gainers, as against 820 declines.

Infosys has moved higher by nearly 2% to Rs 4,016, crosses Rs 4,000 mark on Bombay Stock Exchange (BSE). The stock opened at Rs 3,987 and hit a record high on Rs 4,020 on BSE. A combined 354,764 equity shares changed hands on the counter till 1120 hours on NSE and BSE.

Shares of information technology (IT) major Infosys, the largest contributor in current rally, have contributed nearly 100 points in Sensex gain since September 8.

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