Amid calls for sanctions against Russia, pressure has been mounting on the UK’s Chancellor of Exchequer and Infosys co-founder Narayana Murthy’s son-in-law Rishi Sunak to clarify if he is benefitting from his wife’s stake in the company
IT major Infosys Ltd has inadvertently been caught in the cross hairs of the ongoing Russia-Ukraine war as pressure has been mounting on Infosys co-founder Narayana Murthy’s son-in-law and the UK’s Chancellor of Exchequer Rishi Sunak to clarify whether he is a beneficiary of his wife’s stake in Infosys that operates in more than 50 countries across the globe including Russia.
Narayana Murthy’s daughter Aksata is married to Sunak and holds less than 1 per cent stake in Infosys. The promoters, together, hold 13.12 per cent stake in the company with Murthy’s family holding less than three per cent.
Responding to the allegations, Sunak, in an interview to a media channel, has clarified that he has nothing to do with Infosys.
Infosy’s clarification
Meanwhile, Infosys has issued a statement saying that it has a small team of employees based out of Russia that services some of the company’s global clients locally.
The company in the statement also clarified that it doesn’t have any active business relationships with local Russian enterprises.
Infosys also has committed one million US dollars to provide relief efforts for the victims of war in Ukraine.
The UK government, like its Western counterparts, have advocated sanctions against Russia and called for companies to ‘think over carefully’ about any investments in Russia.
Published on
March 25, 2022
