Whistleblower approaches Sebi on Panaya acquisition

A whistleblower has approached market regulator Securities and Exchange Board of India (Sebi) urging it to direct Infosys to release the investigation report relating to Panaya acquisition to the shareholders.

In the letter, the whistleblower has also questioned the mutual release of claims with former chairman R Seshasayee and Jeff Lehman, the earlier head of nominations and remunerations committee of the board.

“While the company still refuses to release the investigation report, they had quietly revealed in the annual report that they had signed agreements for mutual release of claims with Seshasayee, the earlier chairman of the board and Jeff Lehman, who was earlier head of nominations and remunerations committee of the board,” the whistleblower has said in the letter.

Earlier in its annual report for the financial year 2017-18, Infosys had said that it had signed an indemnification and mutual release agreement.

Securities and Exchange Board of India ( SEBI )