'Talk of co-founders' role in whistleblowing appalling'

News Network
November 6, 2019

New Delhi, Nov 6: Infosys on Wednesday said speculations of co-founders and former employees being involved in the recent whistleblower allegations were "appalling" and seem to be aimed at tarnishing the image of some of "the most accomplished and respected individuals".

Infosys - which is investigating whistleblower complaints that alleged unethical practices by the company's top management - condemned the "mischievous insinuations made by anonymous sources against the co-founders and former colleagues, suggesting their involvement in the recent whistleblower allegations".

"These speculations are appalling and seem to be aimed at tarnishing the image of some of the most accomplished and respected individuals. I have deep regard for the life-long contribution of all our co-founders," Infosys Chairman Nandan Nilekani said in a statement.

He added that the co-founders have served the company "selflessly" and remain committed to the long-term success of Infosys.

He pointed out that an external law firm is already conducting an independent investigation into the allegations, and said the outcome of the investigation will be shared with all stakeholders at the relevant time.

Earlier this week, Infosys had said it is yet to receive any evidence to corroborate anonymous whistleblowers' complaints.

In October, Infosys had informed the stock exchanges of having received anonymous whistleblowers' complaints alleging certain unethical practices by the top management.

Infosys Chairman Nandan Nilekani had said the whistleblower complaint dated September 20, as well as an undated complaint had been received by one of the board members on September 30.

In the letter, dated September 20, and signed by 'Ethical Employees', it was alleged that CEO Salil Parikh as well as Chief Financial Officer Nilanjan Roy engaged in forced revenue recognition from large contracts not adhering to accounting standards.

The complaints were placed before the audit committee on October 10, and to the company's non-executive board members on October 11, also the day when Infosys announced its second quarter results.

US market regulator SEC has also initiated a probe on the matter, while Rosen Law Firm had said it was preparing a class action lawsuit to recover losses suffered by Infosys investors in the US.

Back home, the Securities and Exchange Board of India (Sebi) had sought additional information from the company, while the National Financial Reporting Authority (NFRA) - part of the corporate affairs ministry - is looking into alleged accounting lapses at the firm.

In 2017, Infosys had witnessed a protracted stand-off between its high-profile founders and the previous management over allegations of corporate governance lapses and issues relating to severance package doled out to former executives, including ex-CFO Rajiv Bansal.

Following the tussle, then CEO Vishal Sikka quit followed by some board members. Infosys co-founder Nandan Nilekani was then brought in as chairman to steer the company. Parekh joined the company in January last year as the CEO.

Infosys has also settled with Sebi the case of alleged disclosure lapses regarding a payment made to Bansal.

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News Network
May 29,2020

Bengaluru, May 29: Former prime minister H D Deve Gowda mourned the demise of Rajya Sabha member and Managing Director of leading Malayalam daily Mathrubhumi M P Veerendra Kumar, hailing him as a great journalist and writer.

"My deepest condolences on the demise of former union Minister and Rajya sabha member Shri M.P. Veerendra Kumar. He was a great journalist and writer. May god give strength to his family & his people to bear the loss," Gowda said in his condolence message.

Veerandra Kumar, who was a member of PTIs Board of Directors, died late Thursday at a private hospital in Kozhikode in Kerala following cardiac arrest.

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Agencies
August 3,2020

The Drugs Controller General of India (DCGI) has given nod to the Serum Institute of India (SII) for conducting phase 2 and 3 human clinical trials of the Oxford University developed Covid-19 vaccine candidate in the country.

Government officials said that the approval for conducting phase 2 and 3 clinical trials by the SII was granted by DCGI Dr V G Somani late Sunday night after a thorough evaluation based on the recommendations of the Subject Expert Committee (SEC) on Covid-19.

"The firm has to submit safety data, evaluated by the Data Safety Monitoring Board (DSMB), to the CDSCO before proceeding to phase 3 clinical trials," a senior official said.

"As per the study design, each subject will be administered two doses four weeks apart (first dose on day one and second dose on day 29) following which the safety and immunogenicity will be assessed at predefined intervals," the official said.

As a rapid regulatory response, the expert panel at the Central Drugs Standard Control Organisation (CDSCO) on Friday, after a detailed deliberation and considering the data generated on the vaccine candidate in phase 1 and 2 of the Oxford University trial, had recommended granting permission for phase 2 and 3 clinical trials of the potential vaccine, 'Covishield', on healthy adults in India,  the officials said.

Currently, phase 2 and 3 clinical trials of the Oxford vaccine candidate is going on in the United Kingdom, phase 3 clinical trial in Brazil and phase 1 and 2 clinical trials in South Africa.

The officials said that the SII had submitted a revised proposal on Wednesday after the SEC on July 28, following deliberation over its application, had asked it to revise its protocol for the phase 2 and 3 clinical trials besides seeking some additional information.

The panel had also recommended that the clinical trial sites which have been proposed for the study be distributed across India.

According to the revised proposal by the SII, 1,600 people aged above 18 years will participate in the trials across 17 selected sites, including AIIMS-Delhi, B J Medical College in Pune, Rajendra Memorial Research Institute of Medical Sciences (RMRIMS) in Patna, Post Graduate Institute of Medical Education and Research in Chandigarh, AIIMS-Jodhpur, Nehru Hospital in Gorakhpur, Andhra Medical College in Visakhapatnam and JSS Academy of Higher Education and Research in Mysore.

"According to the application, it would conduct an observer-blind, randomised controlled study to determine the safety and immunogenicity of 'Covishield' on healthy Indian adults," the official said.

The SII, which has partnered with AstraZeneca, for manufacturing the Oxford vaccine candidate for Covid-19 had submitted its first application to the DCGI on July 25 seeking permission for conducting the phase 2 and 3 trials of the potential vaccine. 

Initial results of the first two-phases of trials of the vaccine conducted in five trial sites in the UK showed that it has an acceptable safety profile and homologous boosting increased antibody response, sources had said.

To introduce the vaccine, SII, the world's largest vaccine maker by number of doses produced and sold, has signed an agreement to manufacture the potential vaccine developed by the Jenner Institute (Oxford University) in collaboration with British-Swedish pharma company AstraZeneca. 

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News Network
June 29,2020

New Delhi, Jun 29: India recorded 19,459 new coronavirus cases and 380 deaths in the last 24 hours.

According to the Ministry of Health and Family Welfare on Monday, the total coronavirus cases in the country stands at 5,48,318 including 2,10,120 active cases, 3,21,723 cured/discharged/migrated and 16,475 deaths.

Maharashtra's COVID-19 count touched 1,64,626 and cases in Delhi have reached 83,077.

The total number of samples tested up to 28 June is 83,98,362 of which 1,70,560 samples were tested yesterday, as per the data provided by the Indian Council of Medical Research (ICMR). 

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