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Partly supported

A material part is supported, but the published wording goes beyond the record.

Infosys said in January 2020 that its investigation found the whistleblower allegations substantially without merit and found no evidence of financial impropriety or executive misconduct.

The allegations are substantially without merit
About
Infosys Limited
Claim made by
ETV Bharat, company statement
Published
10 January 2020
Original
Infosys audit panel absolves CEO Parikh, CFO Roy
Evidence score
61 How it was scored
Last reviewed
25 October 2026

Why this label

The company's audit committee hired an outside law firm, and its review covered 128 interviews and about 210,000 documents, according to the report of the company statementS3. Later records fit the result. The company reported no restatementS1 and said the SEC concluded its inquiryS1S4, and a US class action was dropped voluntarilyS5. The claim that the company was cleared rests on a review it commissioned itself. The SEC closure is reported by the company, and the SEC published no finding. Indian regulators made inquiries, and no outcome was foundS6. A voluntary dismissal without prejudice is not a ruling on the meritsS5. The record supports that the review found no evidence, but not that any independent body confirmed it.

Current procedural position

Company-commissioned investigation concluded on 10 January 2020S3. SEC investigation concluded in March 2020, per the companyS1. Indian regulatory inquiries answered by 15 May 2020, outcome not foundS6. Class action voluntarily dismissed without prejudice on 21 May 2020S5.

Record supporting the assessment

no wrongdoing by the company or its executives
S3 Tier C ETV Bharat, Infosys audit panel absolves CEO Parikh, CFO Roy, 10 January 2020
does not anticipate any further action by the SEC on this matter
S4 Tier C The Quint (Press Trust of India), Infosys Whistleblower Case: SEC Probe Over, No Further Action, 24 March 2020
In March 2020, the Company received notification from the SEC that the SEC has concluded its investigation
S1 Tier B Infosys Limited (filed with the US SEC), Statement of Consolidated Audited Results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2020, Not stated on the page. Refers to board approval on 20 April 2020

Conflicting or limiting record

bring to your notice the unethical practices of CEO in recent quarters
S2 Tier C Outlook India (Press Trust of India), Infosys Chairman Says Whistleblower Complaint Being Probed As Shares Plunge 15%, 22 October 2019

Evidence score: 61 of 100

The score grades how well the record establishes this assessment. It is not a score of Infosys Limited. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?1530A company filing and press reports of company statements, with no regulator document.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1620The statements say plainly that no evidence was found.
CorroborationDo independent records support the same material point?815The SEC closure and no restatement fit, but both come through the company.
Procedural accuracyDoes the record settle the procedural state the claim describes?715Inquiries closed without findings and the lawsuit ended without a merits ruling.
CurrencyHas the record been checked against later developments?710No later SEBI or court action was found, and the Indian inquiries have no known outcome.
ReproducibilityCan a reader locate the passage and repeat the assessment?810The SEC filing and press reports are public.
Total61100

Timeline

  1. Audit committee retains Shardul Amarchand Mangaldas & CoS2
  2. Infosys announces the investigation resultS3
  3. Infosys reports the SEC closureS4
  4. Class action voluntarily dismissedS5

Related cases

  • Shareholder plaintiffs v. Infosys LimitedUS District Court for the Eastern District of New York. Civil. Not published.Stage: Voluntarily dismissed without prejudice on 21 May 2020.
    • Plaintiff voluntarily dismisses the lawsuit without prejudiceS5
  • Inquiry concerning Infosys LimitedUS Securities and Exchange Commission. Regulatory. Not published.Stage: Concluded in March 2020, per the company.
    • SEC notifies Infosys that it has concluded its investigationS1S4
  • Inquiries concerning Infosys LimitedIndian regulatory authorities (not named in the filing). Regulatory. Not published.Stage: Company says it answered all inquiries, last on 15 May 2020. No outcome found as of October 2026.
    • Infosys submits its last responseS6

Revision history

  • Assessment first published with label Partly supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S3Tier C Infosys audit panel absolves CEO Parikh, CFO RoyETV Bharat. Press report. 10 January 2020.Reports the company statement on the investigation result and its scope. The investigation was commissioned by the company.Link working, checked 25 October 2026
  2. S4Tier C Infosys Whistleblower Case: SEC Probe Over, No Further ActionThe Quint (Press Trust of India). Press report. 24 March 2020.Reports the company's statement that the SEC concluded its inquiry. No SEC document is cited.Link working, checked 25 October 2026
  3. S1Tier B Statement of Consolidated Audited Results of Infosys Limited and its subsidiaries for the quarter and year ended March 31, 2020Infosys Limited (filed with the US SEC). Company filing. Not stated on the page. Refers to board approval on 20 April 2020.Company disclosure of the investigation, the SEC closure, no restatement and the pending class action. It is the company's own account.
  4. S2Tier C Infosys Chairman Says Whistleblower Complaint Being Probed As Shares Plunge 15%Outlook India (Press Trust of India). Press report. 22 October 2019.Reports the allegations and the audit committee's response. It does not test the allegations.Link working, checked 25 October 2026
  5. S5Tier C Class action lawsuit against Infosys dismissed in USYourStory (Press Trust of India). Press report. 22 May 2020.Reports the voluntary dismissal without prejudice, citing the company. It is not the court docket.Link working, checked 25 October 2026
  6. S6Tier B Form of Release to Stock Exchanges, results for the quarter and nine months ended December 31, 2020Infosys Limited (filed with the US SEC). Company filing. Auditor's report dated 13 January 2021.Company disclosure that it had answered all inquiries from Indian regulatory authorities on the whistleblower matter, with a last response on 15 May 2020. It states no outcome of those inquiries.

Other claims about Infosys Limited