Another former official of Infosys, on condition of anonymity, said the board was anyways not expected to "publicly admit to wrongdoing". "If the board comes out and says they have done something
wrong, there will be class-action lawsuit on the company; so they have to say nothing wrong to protect the company," the official said.
So, the clean chit given to the company is being seen as some kind of a balancing act by Nilekani to "protect" the company, the official added.
The official noted that when former CFO Rajiv Bansal's severance pay issue was raised, the company "stopped payment" and also claimed that "almost all members of the mergers and acquisitions team were told to go" when questions were asked about the Panaya deal. He added that Infosys replaced Rupa Kudva as chairperson of the audit committee with independent director D Sundaram.
"So, they have taken some internal action but they can't publicly admit there was a mistake," the official claimed.
His comments came after Infosys board under chairman Nilekani gave a clean chit to the company's $200 million Panaya acquisition. The board also refused to put out additional details of the probe, as had been demanded by Murthy.
Murthy said he stood by every question on "poor governance" raised in his speech, dated August 29, 2017, to Infosys investors.
He asserted that the core question still remained on "how and why the Infosys board approved an unusual and unprecedented severance payment agreement of 1,000 per cent (of the standard Infosys employment contracts) to the former CFO...".
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)