Infosys shares plunge 14pc

23 October, 2019 12:00 AM printer

MUMBAI: Shares in Indian IT giant Infosys slumped more than 14 percent on Tuesday as the firm launched a probe into whistleblower complaints alleging its top executives acted unethically to inflate revenues.

The letter, a copy of which was sent to the US Securities and Exchange Commission, said the CEO and chief financial officer asked executives to not fully disclose US visa costs in a bid to boost short-term profits, according to media reports.

Infosys chairman Nandan Nilekani said the company was looking into the complaints, adding that chief executive Salil Parekh and chief financial officer Nilanjan Roy have been recused from the probe to ensure its independence, reports AFP.