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Bengaluru: Infosys Ltd has appointed Pervinder Johar as the new chief executive officer (CEO) of Edgeverve, its wholly owned products and platforms subsidiary, according to an executive familiar with the development, more than a year after the abrupt exit of previous boss Michael Reh.

Edgeverve brought 5.6% or $143 million of the company’s $2.5 billion revenue during the October-December quarter.


 
Infosys' US arm Infosys Public Services on Wednesday announced partnering with the Texas Department of Family and Protective Services to modernise its child welfare information system.

"The Information Management Protecting Adults and Children of Texas system will be modernised to deliver child welfare related services," said the IT firm subsidiary in a statement here.


 
The temporary suspension of premium H1-B visa processing by the US administration would delay their issue to the Indian IT firms too but is not a major imperdiment, said industry's representative body Nasscom on Sunday.

"The temporary suspension of premium H-1B processing will create some process delays for the companies - Indian and American -- but is not a significant impediment," said the National Association of Software Services and Companies (Nasscom) in a statement.


 
Infosys has introduced a severance clause in the revised remuneration package for chief operating officer (COO) UB Pravin Rao, an entitlement which was available only to the chief executive officer, Vishal Sikka. “U B Pravin Rao will be entitled to receive severance compensation amounting to nine months’ fixed salary should his employment be terminated without cause,” according to the resolution passed by Infosys Board.

 
Infosys has placed the anonymous whistle-blower complaint with its audit committee and is taking steps to initiate an investigation into the allegations made in the letter, the company disclosed to the stock exchanges on Wednesday. The whistle blower letter which was also addressed to Sebi had made serious allegations with regard to Infosys’ acquisition of Israel based technology firm – Panaya for $200 million in February, 2015. Infosys, however, strongly countered these allegations stating that the entire transaction was transparent and above board.

 
Terming media stories on Panaya acquisition false and malicious, Infosys Chief Executive Vishal Sikka told its employees that the attacks were orchestrated by people hell-bent on harming their reputation.

"Once again, some newspapers have carried false and malicious stories about our company -- this time it is about the acquisition of Panaya. These speculations and fabrications are designed to tarnish our reputation," said Sikka in an email to his employees (techies) coding software at the company's development centres worldwide.


 
A Rs 1,380 crore contact given by GST Network to Infosys to build and maintain technology network for the proposed new indirect tax system is liable to service tax, feel experts. However, ideally services given by GSTN and received by it should be exempt from service tax, they said.

The service tax department is investigating whether the contract is liable to tax. It has asked GSTN CEO Prakash Kumar to come out with all the relevant papers in this regard.


 
GST Network (GSTN), the fledgling technology backbone for the goods and services tax, seems to have been caught in the crossfire of bureaucratic wars. While the CAG wants to audit GSTN for the reason that it spends substantially government funds, despite being incorporated as a private limited company in which Union and state governments hold 49%, the service tax department has now summoned its CEO for possible evasion of tax on some software services received from IT major Infosys.

 
Amid the IT giant Infosys coming under the scanner for alleged corporate governance malpractices, Sebi chairman on Friday said the regulator will not spare any violations irrespective of whether the entity found guilty is big or small.

"Any input that we receive from any source is taken to its logical end. Sebi does not believe that just because some allegations have been made, it is true," Sinha told reporters at the international conference of commodity derivatives.


 
India would see the biggest impact on jobs due to automation, Infosys Chief Executive Officer Vishal Sikka said, quoting a research report, while addressing shareholders on Monday.

While most observers would have followed Sikka's address with regard to the recent tussle between the company's board and its founders, especially N R Narayan Murthy's allegations of a drop in corporate governance standards in India's second-largest software company, Sikka steered clear of the issue and merely dismissed media reports as drama and distraction.


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