'Sadly, will no longer know the truth': Murthy says after Infosys issues corporate governance clean chit

Infosys co-founder NR Narayana Murthy said he stands by all the questions he raised on what he said were falling corporate governance at the company.

In a statement late on Tuesday, Murthy said: "I stand by every question on poor governance raised in my speech to Infosys investors dated August 29, 2017. The fact remains that none of these questions have been answered by the Infosys board with the transparency it deserves.

I am disappointed. The core question still is how and why the Infosys board approved an unusual and unprecedented severance payment agreement of 1000% (of the standard Infosys employment contracts) to the former CFO, and why the board did not disclose this information proactively and much earlier. Sadly, it appears we will no longer know the truth.”

On Tuesday, Infosys’ non-executive Chairman of the Board Nandan Nilekani said that he and the Board were “fully persuaded” that the results of independent investigations into allegations of wrongdoing at the company were correct.

The company also said that former CFO Rajiv Bansal’s severance pay issue could have been handled better but new practices have been put in place to see such an issue does not arise again.