And they have as much right as the founders to know,” Shriram Subramanian, founder of shareholder advisory firm InGovern, told ET.He added that his was a concern under fair disclosure norms. The promoter group owns under 13%.“The entire fair disclosure norms are so nuanced that people forget to look into it and pay heed to it. Infosys’ founders have publicly stated that governance standards at the company have dropped, that CEO Vishal Sikka’s salary is too high and that they want to add new members to the board, including a co-chairman. Rather than having an under the cover control, let the relationship between the promoters and board be institutionalised. Infy’s significant foreign portfolio investor shareholding may look askance at this practice,” said Ranjit Prakash, chief executive partner at Archeus Law.

Source: Economic Times February 12, 2017 19:45 UTC