Infosys: American Exchange Begins Investigation

The US Securities and Exchange Commission (SEC) has started an investigation on the complaint of whistleblowers about the mess in the IT giant Infosys. The stocks of Infosys broke after the news came on Thursday. At 9.30 am, the shares of Infosys fell by nearly 12 points to Rs 638. By 12 noon the stocks of Infosys were running at Rs 641.

Infosys shares closed at Rs 650.75 on Wednesday. Significantly, the CEO of Infosys Salil Parikh and Neelanjan Roy the CFO have been accused of making the mistake. An anonymous employee group has made various serious allegations. The employee’s group has stated that in order to showcase more profit of the organization, they have exploited accounting and the investment policy and deceived the auditor. The group stated which also has the e-mail and the voice recording for evidence of these allegations.

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