Information technology services firm Infosys gave investigators full access to its records to probe whistleblower allegations on accounting malpractices. Infosys chairman Nandan Nilekani during an analysts meeting earlier this week said, “Infosys has strong processes; even God can’t change the numbers of this company.”
On Friday Securities and Exchange Board of India chairman Ajay Tyagi said that investigations by the regulator were in process, “You have to ask him (Nilekani) or you can actually ask God!” he quipped on the sidelines of an event.
The week also saw digital lending companies Lendingkart and Aye Finance post their annual earnings reports for the financial year 2018-2019. Dampened sentiment in the NBFC sector did not have any immediate effect on the numbers of these companies which recorded strong revenues.
Buoyancy in the early stage investing sector continued with Indian Angel Network announcing the final close of its $53 million maiden fund. The fund will be utilised by the platform for backing companies in pre-Series A and Series A stages.
The week also marked an exit for early stage investment firm Unicorn India which exited artificial intelligence backed omni-channel marketing platform Boxx.ai. Founded in 2016, the company was acquired by Netcore Solutions in a cash and stock deal.
For its annual event Microsoft Ignite which began on November 4, technology major Microsoft announced a slew of products to ease security and compliance. It It also spoke about its project Silica to store data which is not frequently used on slabs of glass.
Also look up OYO Life’s Rohit Kapoor who spoke about the coliving space and how the SoftBank backed hospitality company has built up its fully managed rental brand.
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