Stock advisory Company, Infosys gives clean chit to Panaya acquisition, Narayana Murthy ‘disappointed’

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Narayana Murthy says his questions on Infosys’s decision to buy Panaya and the high severance package to Rajiv Bansal and David Kennedy remain unanswered

Infosys Ltd co-founder and chairman Nandan Nilekani on Tuesday declared that the company had found no evidence of wrongdoing in the contentious $200 million acquisition of Israeli automation technology firm Panaya Ltd in 2015.

Nilekani reiterated Infosys’s previous stance on the investigation, effectively handing a clean chit to former CEO Vishal Sikka and the previous board, drawing an immediate riposte from co-founder N.R. Narayana Murthy. Nilekani’s remarks raised further questions about the recent overhaul of the company’s board and top management.

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