September 18, 2018 / 6:47 AM / a month ago

Infosys says arbitrator rules in favor of ex-CFO's severance pay

(Reuters) - Infosys Ltd said on Tuesday an arbitration tribunal has ruled in favor of former chief financial officer Rajiv Bansal’s disputed severance package.

Infosys is required to pay Bansal the outstanding severance amount of 121.7 million rupees ($1.68 million) with interest, the company said here in a statement.

Founders of the Indian IT services company, led by Narayana Murthy, had objected to the payout to Rajiv Bansal and the ensuing row culminated in the resignation of the then CEO Vishal Sikka.

Reporting By Arnab Paul in Bengaluru; Editing by Darren Schuettler

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