Infosys is accused of violating US visa regulations by issuing B-1 visitor visas to its workers instead of H-1B visas, a practice, which allegedly allowed the Narayana Murthy-led tech giant to bypass strict wage and immigration requirements.
In a major setback for billionaire Narayana Murthy, his tech company, Infosys, has been slapped with a record Rs 238 crore (over $3.3 million) fine in the biggest case of immigration fraud in the United States. Infosys has been charged of perpetrating a systemic visa fraud and misusing the US immigration system.
According to the allegations, Infosys violated US visa regulations by issuing B-1 visitor visas to its workers instead of H-1B visas, a practice, which allegedly allowed the Narayana Murthy-led tech giant to bypass strict wage and immigration requirements, giving the company an unfair advantage in lowering its labour costs.
The charges against Infosys further claim that its blatant abuse of visa regulations undermines fair labour practices and integrity of the US immigration system. The company has agreed the lawsuit against it for a whopping Rs 283 crore and also agreed to implement stricter compliance measures at the corporate level to prevent future violation of immigration laws and maintain transparency in visa practices.
Even though Infosys has not admitted liability for the charges levelled against it, the hefty fine serves a strong detterent to major corporations, reminding them of the importance of adhering to legal standards and fair practices in various countries.
Meanwhile, in related news Indian IT giants showcased a stellar performance in the market, giving massive returns to their respective investors his financial year. According to available data, Wipro has surged ahead of Infosys, and other major players in the sector like Tata Consultancy Services (TCS), HCL Technologies, and Tech Mahindra, in giving strong returns to investors.
Wipro has given an amazing 47% return in the last one year, followed by Tech Mahindra Limited (45.72%), HCL Technologies Limited (43.85%), Infosys Limited (33.46%) and TCS (24.81%), it revealed.