MYSORE: It's good news for Infoscions!
On the ocassion of its silver jubilee, India's IT bellwether Infosys
Technologies Ltd is showering its 58,000 employees with a Rs 126 crore
bonanza.
Addressing a gathering of over 7000 people at its campus in Mysore, NR
Narayana Murthy, Chief Mentor and Chairman announced that the trustees of
Infosys employees Welfare Trust, an independent body, decided to distribute a
part of the corpus of the
Trust amount to employees of Infosys to commemorate the silver
jubilee celebrations of the company.
“The trustees have also decided that each of the beneficiaries will get a
certain amount depending on his/her tenure in the company," he added.
Going down memory lane, Murthy said the economic reforms of 1991, unleashed
during the tenure of PV Narasimha Rao, by Prime Minister Manmohan Singh, finance
minister P
Chidambaram and Planning Commission deputy chairman Montek Singh Ahluwalia
had turned the fortunes of the company.
“When we spent 1.5 times our revenue in 1992 to build India's first
campus, I knew we had started on a journey of worthy dreams. When we politely
refused General Electric's unreasonable conditions in 1995 and walked away
from their business when they formed 25 per cent of our revenues and 8 per cent
of our profits, I knew we had built a courageous and principled organization”,
said Murthy.
“When Mr. Ramachandrappa, an attendant at Infosys told me recently and
invited me to his fabulous house that he had built, I knew our experiment in
democratization of wealth had achieved success and indeed had served a great
purpose. When Infosys Foundation financed and fulfilled the dream of higher
education of a bright but poor Hanumantappa belonging to disadvantaged community
in Karnataka, I knew our hearts were in the right place. When I stood up in
front of 1500 investors and accepted that we had indeed erred in investing some
of our free cash flows in the secondary market and lost it, I knew we had
fulfilled our pledge to be transparent with our investors”, he added.
"Infosys is a shining example of the success of the economic reforms
that were pioneered by the trio (Singh, Chidambaram and Ahluwalia) under then
prime minister Rao during the early nineties.
Attributing the success of the company on several fronts to the commitment of
its founder-promoters and employees to excellence, high quality, fairness,
transparency and integrity, Murthy said Infosys had raised the image of India in
the comity of nations and emerged as a benchmark for others to emulate.
Earlier, Infosys CEO and managing director Nandan
M Nilekani said the silver jubilee fest will be held at the company's
centers the world over till December.
During the inaugural occasion, the $2.1-billion company is holding a global
analysts' meet for about 2600 financial experts at its sprawling 270-acre
campus, which houses the world's largest corporate leadership institute.
Chidamabaram, Ahluwalia and Karnataka chief minister H D Kumaraswamy were
among other dignitaries who were present on the occasion.
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