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Extended Summary:

Sebi examining letter from Infosys whistleblower.

MUMBAI: The Securities and Exchange Board of India is examining a recent letter from a whistleblower at Infosys complaining against the companys CEO Vishal Sikka and the board of directors.

We are closely monitoring the developments.

The letter also alleges that Bansal got 30 months salary though his contract stipulated a payout of only three months.

The letter pointed out that the report for the said period did not mention any details of Bansals payout.

Infosys has been facing severe criticism since revealing in May 2016 the details of the severance payout to Bansal.

The payment, unprecedented in Infosys history, is a significant part of founder NR Narayana Murthys claims that governance at the company has fallen.

Murthy, in an interview to ET, said the payout could have the appearance of hush money.

The Infosys brass held a press conference on Monday to clarify the issues.

ET has reported that Bansal was not in favour of the transaction..

A senior former employee, privy to the Panaya developments, said the Israeli company was on the verge of shutting down, and a number of people were laid off before the buyout.

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