Infosys loses US$6.6b in market cap after whistleblower complaints

Chief Executive Salil Parekh, who took charge in 2018, has bypassed reviews and approvals for large deals for fear of reduced profits having a negative impact on its shares, the letter signed by "ethical employees" said.

NEW DELHI/BENGALURU: India's No.2 software services exporter, Infosys Ltd, is probing whistleblower complaints that its top two executives engaged in "unethical practices" to boost short-term revenue and profit, sending its shares down 16% on Tuesday.

Chief Executive Salil Parekh, who took charge in 2018, has bypassed reviews and approvals for large deals for fear of reduced profits having a negative impact on its shares, the letter signed by "ethical employees" said.