Amid chaos, some reports have claimed that India's UID man Nandan Nilekani will come back to steer the Infosys away from troubled waters. "Most importantly, Nilekani is an insider who can stem the fall of the share price as well as the company's image".
The company's board bolstered Sikka and conveyed in a statement that founder and former-chairman Narayana Murthy's constant attack was the main basis for Sikka's resignation. UB Pravin Rao will continue to be interim CEO and Managing Director, the company said.
The change in Sebi's stance and its plan to reinvestigate comes at a time when Infosys is facing turbulence with the ongoing war of words between co-founder N R Narayana Murthy and the board. The decision was taken in the Board of Directors meeting by Infosys on Thursday.More news: Lee from Virginia game
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"After considerable thought and mutual deliberations, we strongly feel that the Board of Infosys should invite Nandan Nilekani to join it in a suitable capacity", said the DIIs in a letter, accessed by IANS here.
This is the second major pitch for Nilekani after an investor advisory firm IiAS said the co-founder, who had served as CEO between March 2002 to April 2007 and later went on to head the UIDAI, should be brought back on to the Infosys board as its non-executive chairman.
Bengaluru: Karnataka Industries Minister R V Deshpande today termed the recent developments at IT major Infosys following sudden resignation of Vishal Sikka as "unfortunate"."Very unfortunate developments, this should not have happened at Infosys", Deshpande said when asked about the recent events at the city headquartered company."I can understand transparency is very important".
"Murthy is likely to bare all, explaining his stand to analysts on the values, culture, transparency and corporate governance with which he built the company over three decades till he stepped down in 2014", said a source familiar with the events and developments in the company.
"We believe Sikka's resignation could have been due to the Board not providing detailed facts and explanations in a timely manner which probably led to such distractions and noise". "In light of the other demands on my time, I think it best if I accelerate my departure from the Board by a few months to allow a new independent director to start in this important role". All outstanding equity awards that are unvested will terminate on the date of separation, the company said.