NEW DELHI: Infosys<\/a>' former CFO, T V Mohandas Pai<\/a> today exhorted institutional investors to raise questions about the huge cash pile on the company's books and governance issues, as investors have an obligation to protect their investment. 新德里消息:印孚瑟斯'前首席财务官T V莫汉达斯·拜今天鼓励机构投资者质疑巨额现金在公司的书籍和治理问题,随着投资者有义务保护他们的投资。
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\n\"Capital allocation is very important. Institutional investors should raise those questions. They have a duty...institutional investors should raise questions on governance because it concerns the company's reputation,\" Pai told PTI in an interview.
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\nInfosys had liquid assets, including cash and cash equivalents and investments worth Rs 35,697 crore (about $5.25 billion) on its books at the end of December 2016.
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\nHe asserted that founders, who hold 13 per cent stake in the Bengaluru-based company, had raised these questions like any other investor would.
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\n\"The founders are investors like anybody else. They hold 13 per cent stake. They have every right to question the Board... Since the largest shareholder has sought clarification, they must also seek detailed clarification,\" he said.
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Pai, along with former colleague V Balakrishnan, had sought a USD 1.8 billion buyback in 2014 just as CEO Vishal Sikka<\/a> was taking over.
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\n\"We had raised the issue. We hope that other institutional investors will also raise their voice because the institutional investors have an obligation to protect their investment,\" he said.
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\nPai explained that shareholders all over the world ask questions about capital allocation when growth slows down for listed companies, that have too much cash on books.
\n
\n\"All over the world, for listed companies when growth slows down and there is too much cash, shareholders will ask what are they doing with the cash...about capital allocations. Most Boards around the world will respond with a buyback to show confidence in the company and stabilise the stock price,\" he said.
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\nPai expressed hope that institutional investors who have a \"fiduciary responsibility\" to their unit holders, will also ask the same questions, as has been in the case of Cognizant.
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\nLast week, Cognizant's Board approved a plan to return USD 3.4 billion to shareholders over the next two years through share buybacks and dividend, following investor activism.
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\n\"Why can't Infosys do something like Cognizant has done. That is very important for shareholders. I hope they ask him that at a time when growth is slowing down,\" he said.
\n
\nHe said that while reports of the rift would not impact the company's performance but there is \"some reputational damage because of this\" and pointed out that the board \"has to remedy this situation\".
\n
\nOver the last few days, Infosys has come under fire from founders like N R Narayana Murthy who have publicly raised concerns on alleged corporate governance lapses at Infosys.
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\nInfosys, however, has denied the allegations and said that its board is fully aligned with the strategic direction of Sikka and is very \"appreciative of the initiatives taken by him in pursuance of this transformation\".\n\n<\/p><\/body>","next_sibling":[{"msid":57118131,"title":"Concerns emerge over disclosure norms at Infosys","entity_type":"ARTICLE","link":"\/news\/concerns-emerge-over-disclosure-norms-at-infosys\/57118131","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57118147,"entity_type":"ARTICLE","title":"Mohandas Pai urges investors to question Infosys' capital allocation policy","synopsis":"Pai said founders are investors like anybody else and have every right to question the Board. Shareholders all over the world ask questions about capital allocation.","titleseo":"telecomnews\/mohandas-pai-urges-investors-to-question-infosys-capital-allocation-policy","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2017-02-13 07:30:36","lastupd":"2017-02-13 07:31:05","breadcrumbTags":["Infosys","Mohandas Pai","Vishal Sikka","Infosys tussle","Infosys capital allocation","Enterprise IT"],"secinfo":{"seolocation":"telecomnews\/mohandas-pai-urges-investors-to-question-infosys-capital-allocation-policy"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2017-02-13" data-index="article_1">
“资本配置是非常重要的。机构投资者应该提高这些问题。他们有责任……机构投资者应提高治理的问题,因为它关系到公司的声誉,”拜告诉PTI在接受采访时说。
印孚瑟斯的流动资产,包括现金和现金等价物和投资价值35697卢比(约52.5亿美元)在其书在2016年12月底。
他断言,创始人,Bengaluru-based公司持有13%的股份,已经像其他投资者会提出这些问题。
“创始人投资者喜欢别人。他们持有13%的股份。他们有权质疑董事会……以来最大股东寻求澄清,他们还必须寻求详细的澄清,”他说。
巴拉科瑞斯南派和前同事V,在2014年寻求18亿美元回购CEOVishal Sikka被接管。
“我们已经提出了这个问题。我们希望其它机构投资者也会提高自己的声音,因为机构投资者有义务保护他们的投资,”他说。
Pai解释说,世界各地的股东问资本配置为上市公司增长放缓时,有太多的现金买书。
“在世界各地,上市公司在经济增长放缓,有太多现金,股东将问他们在做的现金…关于资本分配。世界上大多数董事会会响应一个回购给对公司的信心,稳定股票价格,”他说。
Pai希望机构投资者有一个“受托责任”单位持有人,还问同样的问题,因为已经认识到的。
上周,认识到董事会批准一项计划,向股东返还34亿美元在未来两年内通过股票回购和股利,投资者行动主义。
“为什么印孚瑟斯不能认识到做了。对股东,是非常重要的。我希望他们问他的时候,增长正在放缓,”他说。
他说,虽然报告的分歧不会影响公司业绩但有“一些声誉损失,因为这种“和指出,董事会必须纠正这种情况。
在过去的几天里,印孚瑟斯创始人已经遭到像N R Narayana没吃人公开提出所谓公司治理失误在印孚瑟斯的担忧。
然而,印孚瑟斯否认了这些指控,并表示,其董事会完全符合Sikka的战略方向,是非常“珍惜所采取的行动他根据这个变换”。
NEW DELHI: Infosys<\/a>' former CFO, T V Mohandas Pai<\/a> today exhorted institutional investors to raise questions about the huge cash pile on the company's books and governance issues, as investors have an obligation to protect their investment.
\n
\n\"Capital allocation is very important. Institutional investors should raise those questions. They have a duty...institutional investors should raise questions on governance because it concerns the company's reputation,\" Pai told PTI in an interview.
\n
\nInfosys had liquid assets, including cash and cash equivalents and investments worth Rs 35,697 crore (about $5.25 billion) on its books at the end of December 2016.
\n
\nHe asserted that founders, who hold 13 per cent stake in the Bengaluru-based company, had raised these questions like any other investor would.
\n
\n\"The founders are investors like anybody else. They hold 13 per cent stake. They have every right to question the Board... Since the largest shareholder has sought clarification, they must also seek detailed clarification,\" he said.
\n
Pai, along with former colleague V Balakrishnan, had sought a USD 1.8 billion buyback in 2014 just as CEO Vishal Sikka<\/a> was taking over.
\n
\n\"We had raised the issue. We hope that other institutional investors will also raise their voice because the institutional investors have an obligation to protect their investment,\" he said.
\n
\nPai explained that shareholders all over the world ask questions about capital allocation when growth slows down for listed companies, that have too much cash on books.
\n
\n\"All over the world, for listed companies when growth slows down and there is too much cash, shareholders will ask what are they doing with the cash...about capital allocations. Most Boards around the world will respond with a buyback to show confidence in the company and stabilise the stock price,\" he said.
\n
\nPai expressed hope that institutional investors who have a \"fiduciary responsibility\" to their unit holders, will also ask the same questions, as has been in the case of Cognizant.
\n
\nLast week, Cognizant's Board approved a plan to return USD 3.4 billion to shareholders over the next two years through share buybacks and dividend, following investor activism.
\n
\n\"Why can't Infosys do something like Cognizant has done. That is very important for shareholders. I hope they ask him that at a time when growth is slowing down,\" he said.
\n
\nHe said that while reports of the rift would not impact the company's performance but there is \"some reputational damage because of this\" and pointed out that the board \"has to remedy this situation\".
\n
\nOver the last few days, Infosys has come under fire from founders like N R Narayana Murthy who have publicly raised concerns on alleged corporate governance lapses at Infosys.
\n
\nInfosys, however, has denied the allegations and said that its board is fully aligned with the strategic direction of Sikka and is very \"appreciative of the initiatives taken by him in pursuance of this transformation\".\n\n<\/p><\/body>","next_sibling":[{"msid":57118131,"title":"Concerns emerge over disclosure norms at Infosys","entity_type":"ARTICLE","link":"\/news\/concerns-emerge-over-disclosure-norms-at-infosys\/57118131","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":57118147,"entity_type":"ARTICLE","title":"Mohandas Pai urges investors to question Infosys' capital allocation policy","synopsis":"Pai said founders are investors like anybody else and have every right to question the Board. Shareholders all over the world ask questions about capital allocation.","titleseo":"telecomnews\/mohandas-pai-urges-investors-to-question-infosys-capital-allocation-policy","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2017-02-13 07:30:36","lastupd":"2017-02-13 07:31:05","breadcrumbTags":["Infosys","Mohandas Pai","Vishal Sikka","Infosys tussle","Infosys capital allocation","Enterprise IT"],"secinfo":{"seolocation":"telecomnews\/mohandas-pai-urges-investors-to-question-infosys-capital-allocation-policy"}}" data-news_link="//www.iser-br.com/news/mohandas-pai-urges-investors-to-question-infosys-capital-allocation-policy/57118147">
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