Why Infosys is Fined of Rs 283 crore by US Government?

Infosys in Big trouble Radiocity By Radiocity Team Published Dec 03, 2024 [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

Record Fine Infosys agreed to pay a record fine of Rs 283 crore ($35 million) for visa fraud and misuse of U.S. immigration processes [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

Visa Misuse The company misused B-1 visitor visas instead of H-1B visas to avoid strict wage and immigration requirements [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

US SEC Investigation The U.S. Securities and Exchange Commission launched an investigation into the allegations [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

Stock Market Impact Infosys` market value dropped significantly due to the allegations [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

Leadership Crisis The company faced a leadership crisis similar to the one in 2017 when Vishal Sikka resigned [{ "selector": ".custom-gradient", "duration": "500ms", "fill": "forwards", "keyframes": [ { "offset": 0, "transform": "translateY(100px)" }, { "offset": 1, "transform": "translateY(0)" } ] }]

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