Infosys starts talks on selling Panaya
Bengaluru, June 23: Global software major Infosys initiated the process to sell its Panaya subsidiary, a top company official said on Saturday.
"We have initiated the process of discussion to sell Panaya as discussed by the board in April," CEO Salil Parekh told shareholders at the company's 37th Annual General Meeting (AGM) here.
Chief Financial Officer (CFO) M.D. Ranganath told the stakeholders that the company was following due diligence on acquisitions ahead.
"We are monitoring the acquisitions we have done and are following due diligence on acquisitions ahead," he said.
The acquisition of the US-based Panaya for $200 million in February 2015 rocked the company in 2017 after its co-founder N.R. Narayana Murthy red-flagged lack of transparency in the deal and accused the previous board of compromising on governance issues during its negotiations.
The automation technology firm was bought to offer large-scale enterprise software management as a service to the company's global clients.
The controversial deal came to light after an anonymous whistleblower alleged that the company's executives had personal interests in buying it, also resulted in the exit of its first non-promoter Chief Executive Visha Sikka in August 2017.
The company, in April, announced its decision to sell Panaya by March 2019.
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Repolling in six polling stations in Outer Manipur on April 30
Imphal (PTI): Repolling will be held in six polling stations in the Outer Manipur Lok Sabha constituency on April 30, officials said.
The repolling was necessitated as unidentified persons had damaged EVMs and VVPATs before the completion of voting at four of these six polling stations on April 26, while EVM malfunctioning was reported at one polling station, and voting could not be completed at another due to "threat and intimidation by unknown miscreants", they said.
Voting at four polling stations in Ukhrul assembly segment, and one each in Chingai assembly seat in Ukhrul and Karong in Senapati was declared null and void and repolling will be conducted on April 30, a notification issued by the office of Manipur's chief electoral officer said.
Around 76.06 per cent of 4.84 lakh voters exercised their franchise during polling in 13 of 28 assembly segments of Outer Manipur Lok Sabha constituency on April 26. Voting was held in the remaining 15 segments, along with the entire Inner Manipur Lok Sabha seat, in the first phase on April 19.
