Infosys founder Narayana Murthy stays firm, says his concerns very much remain.

BENGALURU: InfosysBSE 0.39 % founder NR Narayana Murthy clarified there is no let-up in his demand that the board of India’s second-largest software company satisfactorily address the issues of poor corporate governance pinpointed by him last week, striking a firm stance in what looks set to be a fractious corporate battle. 

“No, I have not withdrawn my concern,” Murthy told ET on Monday after reports put out by news agencies indicated he had called off his objections in a sign of reconciliation.Murthy’s concerns relate to what he termed as ‘hush money’ paid to two former employees in the form of hefty severance payouts, and the steep fall in governance standards at the Bengaluru-based company since June 2015 (when R Seshasayee took over as the chairman of the board). 

“They (issues and concerns) have to be addressed properly by the board, and full transparency should be given and people responsible should become accountable,” said Murthy, 70, who cofounded the now-$10-billi .. “The positive tweet by one of the directors is encouraging,” Murthy told ET, in a reference to independent board member Kiran Mazumdar-Shaw’s comment on microblogging site Twitter suggesting that the issue of severance pay to former CFO Rajiv Bansal could have been handled better. 

“It could have been moderated in hindsight,” wrote Mazumdar-Shaw in response to a tweet. At a press conference on Monday, Seshasayee said a new severance package plan has been put in place to ensure there  ..