Infosys to pay Rs 34L to Sebi as settlement

Bansal was asked to go in 2015 by then CEO Vishal Sikka. Infosys at the time agreed to pay him Rs 17.4 crore as severance, the equivalent of 24 months' pay. But the payment became controversial, with co-founder N R Narayana Murthy questioning in particular the high amount involved. It was also then said that proper procedures were not followed. Subsequently, Infosys disbursed only Rs 5 crore, and halted the remaining payment on the grounds that Bansal had not met some of his obligations

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2tr0lRt