Kudva heads Infy panel on whistleblower complaint

Infosys, India’s second-largest software exporter, has formally said the company has constituted an audit committee under independent director Roopa Kudva to look into a whistleblower’s complaint.

According to Infosys sources, the company constituted the committee after it received a letter from the whistleblower on governance issues, especially the compensation to former chief financial officer Rajiv Bansal and the high price paid for the acquisition of Israeli firm Panaya.

Kudva, who is currently working as a partner and managing director at Omidyar Network, joined Infosys as independent director in 2005. She is also a member of Banks Board Bureau and an independent director and board member at Tata AIA Life Insurance. She has also worked as managing director and chief executive officer at Crisil India for eight years.

In a BSE filing on Wednesday, the company stated that the constitution of the committee was in response to the letters dated February 15 and February 21 from the National Stock Exchange and the letter dated February 21 from the BSE on the status of whistleblower complaints received by the company. Besides BSE and NSE, the company issued the letter to New York Stock Exchange, Euronext London and Euronext Paris.