Infosys loses severance package arbitration; asked to pay ex-CFO Rs 12.17 crore

has lost the arbitration over package of its former and has been asked to pay outstanding amount of Rs 12. As per the award, is required to pay Bansal the outstanding severance amount of Rs 12. “While the award acknowledges that Infosys had bona fide disputes, its counter claim for refund of previously paid severance amount of Rs 5. When Bansal left Infosys in 2015, the IT firm had agreed to pay him a severance amount of Rs 17. However, it had maintained that the settlement application made to Sebi was neither admission of guilt nor a denial.

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