Infosys on Tuesday said it would pay its former chief financial officer Rajiv Bansal the pending severance package amount of Rs 121.7 million as directed by the arbitration tribunal in September this year.
“The company has received the legal advice and will comply with the award and make the necessary payments,” it said in an exchange filing.
IT services major Infosys has announced the launch of Infosys Wingspan, its next-gen learning solution to help organisations accelerate their talent transformation journey. Based on open source technologies, the cloud-first and mobile-first solution is designed to provide a seamless interactive learning experience accessible anytime, anywhere and on any device. Infosys Wingspan provides best-in-class curated content from multiple sources that learners can access to enrich their knowledge.
BENGALURU: Infosys could not provide enough evidence to substantiate that former CFO Rajiv Bansal deleted data from company laptop, leading to dismissal of its claim of breach of agreement by the arbitrator, two people privy to the proceedings told ET.
The Bengaluru-headquartered software services firm was ordered last week by arbitrator RV Raveendran to pay the remaining severance of Rs 12.17 crore with interest after about 14 months of Bansal taking the matter to arbitration tribunal.
Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.
"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.
Infosys, the country’s second-largest information technology services firm, has lost an arbitration battle against its former chief financial officer Rajiv Bansal over his severance package.
The arbitration tribunal has directed the IT firm to pay Bansal the pending amount of Rs 121.70 million with interest. Infosys’s counterclaim for refunding the previously paid severance amount of Rs 52 million has also been rejected.
After the US, Infosys is planning to take its digital hub models to Europe and Australia as the Bengaluru-based company looks at expanding its onshore capabilities in order to serve these markets effectively. The company plans to begin by setting up one digital hub in the UK for which it has shortlisted four locations while it is also evaluating setting up such centres in two more European countries. In Australia, Infosys is looking at setting up two hubs initially before expanding further.
IT company Infosys on Monday said it has doubled its investment in US-based software firm TidalScale by putting in an additional $1.5 million (around Rs 110 million) through the Infosys Innovation Fund.
"Infosys...has made an additional investment of $1.5 million through the Infosys Innovation Fund in TidalScale Inc, the company at the heart of the software-defined server revolution," the Indian software major said in a statement.
Infosys on Friday announced a definitive agreement to acquire Fluido, a salesforce advisor and consulting partner in Nordics that has expertise in cloud consulting, implementation and training services. Infosys said the acquisition enhances its ability to provide clients an unparalleled cloud-first transformation. With offices in Finland, Denmark, Sweden, Norway and Slovakia, Fluido elevates Infosys’ presence across the Nordics region.
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