Seshasayee hits back at Infosys founder Murthy

Seshasayee hits back at Infosys founder Murthy

He questioned the increasingly personal attacks by Murthy, saying he was "at a loss to understand the motivations for this personal vendetta against me".

"Seshasayee, whose statement includes comments from the two other Infosys directors who stepped down last week, said he previously stayed away from making public statements to help the company move forward but that Murthy's speech to investors had forced his hand". "As late as February '17, much after the alleged lapses took place, Mr. Murthy also issued a press statement that I was a man of high integrity".

"Murthy 's statement to the investors misleadingly attributes words to me that are taken completely out of context, making it appear that I was not stating the truth".

Infosys on Friday said it is engaging with shareholders on the future course of action to ensure that high governance standards are maintained, as it attempts to put behind months of acrimony between founders and former Board members over allegations of lapses.

Seshasayee's statement comes after Murthy gave a speech to Infosys' investors on Tuesday and quoted an anonymous that said the former board chairman had lied to shareholders about payments made to former CFO Rajiv Bansal.

I would also like to point out that Mr. Murthy invited me to join the Board and entrusted to me the Chair of the Audit Committee, while he was still the Chairman. Etchemendy claimed that Seshasasayee was a man of impeccable integrity and although faced with unfair, false and outrageous attacks.

The Board members reiterated their support for ex-chairman Seshasayee in the joint statement today.

Seshasayee said Murthy quoting from the letter was "offensive", since the accusations made by the whistleblower were proved to be untrue in investigations, and yet Murthy gave an impression to the shareholders that Seshasayee lied.

In 1981, Nilekani was first appointed to the Board and on July 9, 2009, ceased to be its member, said Infosys. He has been an inspiration to his fellow board members and has been the real moral compass of Infosys for the past three years.

The fight between the founders and the new management of Infosys broke out in February this year when the board of Infosys chose to dole out a high severance package to former chief financial officer Rajiv Bansal - 24 months' salary (Rs 17.38 crore) - as compared to three months' salary for others.

Seshasayee quotes Jeffrey Lehman, a former director of Infosys who resigned recently, to say that Narayana Murthy should stop quoting "lies" floated in the anonymous whistleblower letter on the Rajiv Bansal compensation and alleged irregularities committed in the 200 million dollar acquisition of Israeli firm Panaya.

"This statement does not mention whether the investigation addressed the allegations of the whistle-blower regarding the serious governance deficits of the Board and the CEO in the matter of the severance agreement with the ex-CFO", said Murthy.

"For the good of Infosys, I wish Murthy would stop quoting those lies as if they were reputable".



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