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Follow Us"As I leave the board, I feel sad that Infosys, voted most often as India's most respected company during the period 1995-2011, has been issued a subpoena by a grand jury in the US on the B-1 visa issue. The issue will be decided on its merits in due course," Murthy told his shareholders at the 30th annual general meeting (AGM) here.
The founding chairman and chief mentor of Infosys, who turned nostalgic, as he presided for the last time over the blue chip company's 30th annual general meeting (AGM) here, said though a district court in Texas on May 23 served the legal notice to the company on the alleged violation of visa rules, the management decided to contest it and clarify its position to clear the air.
Murthy gives final speech to investors at AGM
Asserting that the blue chip company would strengthen its well-acclaimed and much respected focus on embracing meritocracy and transparency, Murthy said during the last three decades he had never compromised on values, and advocated openness in discussions on the importance of values at every level in the organization.
"This is the path I have walked during the last 30 years at Infosys with much peace of mind and a clear conscience. I never waffled and remained unambiguous about practising our values, punishing the guilty and being firm in every decision-making based on our values," Murthy said.
In a regulatory filing, the company admitted that any action by the US government against it in this regard would seriously affect its business in the North America market, which accounts for about 60 percent of its export revenue.
The US immigration authorities issues B1 visas for short-term visits to attend business seminars and restrict employees from engaging in gainful employment during their stay.
The global software major has about 10,000 of its software engineers on H-1B visas and 2-200 on L1 working in the US.