Infosys fined $34 mn to settle US Visa case

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Shivani
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Infosys fined $34 mn to settle US Visa case

#1 Postby Shivani » Thu Oct 31, 2013 11:38 am

Infosys has agreed to pay a penalty of $34 million to the United States government for making errors in 1-9 paperwork and other visa-related matters.The US goverment departments investigations proved the company to be guilty of misuse of visas in that country.The US authorities have been investigating Infosys' use of visas since 2011.

In a statement, the company said it has completed a civil settlement that concludes the investigation by the US Attorney's Office for the Eastern District of Texas and resolves all issues with the US Department of State, Immigrations and Customs Enforcement and the US Department of Homeland Security. During the September quarter earnings, the company had said it set aside $35 million for visa related matters.

Infosys said the outcome of the settlement will not have any impact on its business. "There were no criminal charges or court rulings against the company. Furthermore, there are no limitations on the company's eligibility for federal contracts or access to US visa programs as a result of the settlement," it said.

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