Infosys shareholders News

The share buyback, which will be the first in the company's 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs 1,150 apiece.

The Bengaluru-based firm has been in the eye of a storm over the past few months, with the two sides clashing over allegations such as corporate governance lapses and irregularities in Infosys' USD 200-million Panaya acquisition.

He will continue to hold the position of interim-CEO and MD for a maximum of five years, or until a new CEO and MD is appointed, Infosys said in its postal ballot.

Seshasayee, however, hit out at Murthy on Friday for carrying out "personal attacks" and making "false and slanderous accusations" against him, saying he was unable to understand the motivation for the persistent vendetta.

The company said in a statement, read out by Nilekani, that the Board is focused on the future, consistent with the commitment to good governance.

Venkatesan was responding to a query whether the company would prefer to see Murthy, who has been flagging falling corporate governance standards, as shareholder activist or a well-wisher.

A former CFO of Infosys on Thursday said the company's decision to return Rs 13,000 crore to shareholders is 'too little' and appointing a co-Chairman would make the structure much more complex at board level.

Infosys, India's second-biggest software exporter, Thursday announced plans to return Rs 13,000 crore from its cash pile to shareholders after it reported an almost flat net profit in the March quarter and sales outlook that fell short of estimates.

Infosys on Thursday said it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.

Infosys shareholders Monday made a strong pitch for the return of co-founder Narayana Murthy to the company once again, which the IT czar declined by calling it words of "affection".