The counter claim of Rs 100 crore against its former chief financial officer Rajiv Bansal seems to be a pressure tactic used by Infosys to pressurise him to come to a settlement that is much lower than the current claim. This could even be a move to force him to wrap up the whole episode, according to experts.
Experts felt that Infosys appears to be in no mood to pay the balance amount to Bansal and wants to delay the whole issue by a counter claim. “Infosys wanted to get rid of Bansal at the earliest and had agreed on a severance package. I am sure that the arbitration will be in Bansal's favour as he has a very strong case and will get his money with interest. Bansal is a finance person and would have studied the clauses of the severance package, which he has had with the company, and is likely to get the balance money back," said Kris Lakshmikanth, CEO and founder of recruitment firm Head Hunters India Ltd.
Bansal had challenged the IT giant's decision to suspend the severance amount of Rs 12 crore, which was the balance of the Rs 17.4 crore, as only Rs 5 crore was paid to him. He had invoked his rights to an arbitral tribunal in 2017. According to a latest media report, Infosys has filed a counter claim of Rs 100 crore against Bansal for allegedly breaching confidentiality agreements.
Lakshmikanth added that the company founders are behind the latest move by Infosys. "I feel that there is some pressure from the founders, especially Narayana Murthy, to make Infosys file a counter claim against Bansal as they have been opposing the severance package from the beginning.”
Mumbai-based Ascentius Consulting's Alok Shende also offered a similar view. “The new CEO Salil Parekh will be too busy in building a customer base for the company and making customer visits, and he will not be involved in such moves. I feel that it is the founders who are behind all this as they want to pressurise Bansal to come to a lower settlement with them. However, this move is not radical as companies use such pressure tactics to settle such issues. On the other hand, Bansal has a very strong case and he is most likely to get the rest of the balance money, that too, with interest,” he said.
Bansal is being represented by the law firm Indus Law and Nishith Desai Associates is representing Infosys.