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Infosys to invest Rs 1,918 crore to develop 3 new campuses in Bengaluru

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By NewsGram Staff Writer

IT giant Infosys, led by Vishal Sikka, got a green light on his proposal to set up three more campuses in Bengaluru at an investment of Rs 1,918 crore from the Karnataka government on Saturday.

Infosys has proposed to develop one new campus at Electronic City and two at Konappana Agrahara in Bengluru. The company has claimed in its proposal that it will create 27,000 new jobs from these three projects.

The IT major has also planned a Software Technology Park with an estimated cost of Rs 1,079 crore. In this project, the number of direct employment would be 15,000.

The govt. also approved the proposal from Mangalore Refinery and Petrochemicals Limited with an investment of Rs. 20,000 crore and another proposal from Biosciences with an investment of Rs. 235 crore.

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Ravi Venkatesan Quits As Infosys’ Independent Director

An independent director since 2011, Venkatesan also served briefly as co-chairman before successfully transitioning this responsibility when Nandan Nilekani became chairman in August 2017.

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Infosys' independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.
Ravi Venkatesan quit as Infosys' independent director, wikimedia commons

Infosys’ independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.

The Bengaluru-based IT major, in a statement, said that Venkatesan plans to pursue an “exciting new opportunity”.

“I joined the board at a time when Infosys was beginning the complex journey of transitioning from founder-led to professional management. This was also a time of tectonic industry shifts. I am pleased that this mission has been accomplished. Infosys is strong, in good hands, and is gaining momentum,” Venkatesan said.

Infosys' independent director Ravi Venkatesan has resigned from the board with immediate effect, the company said on Friday.
Infosys Logo, wikimedia commons

An independent director since 2011, Venkatesan also served briefly as co-chairman before successfully transitioning this responsibility when Nandan Nilekani became chairman in August 2017.

It may be recalled that India’s second largest IT exporter, Infosys, had seen protracted stand-off between its founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

The tussle had led to the sudden resignation of the then CEO Vishal Sikka last year.

Salil Parekh joined the Bengaluru-based company as the new CEO in January this year. (IANS)

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