Mumbai: Tata Consultancy Services (TCS) informed the bourses that it has placed four of its employees under suspension for alleged violations of its code of conduct. The action follows the investigation by the firm into a whistleblower complaint received earlier this month, PTI reported citing sources. The Tata Group company, the largest IT services exporter in the country, has barred an unspecified number of vendors who provided talent on a contractual basis, they said.
In a late evening statement to the exchanges, TCS said it probed the allegations made in the complaint and found out that the charges do not "involve any fraud by or against the company and no financial impact". The statement made after a media report published earlier in the day also clarified that the "reference to alleged scam in recruitment process is incorrect".
It said the resource management group (RMG) is entrusted with allocating resources to various projects and fill shortfall through contractors. "The complaint referred to...relates to hiring of such contract resources employed by the contractors," it added. The company also clarified that none of its key managerial persons has been involved in any irregularities.
"The issue relates to breach of company's Code of Conduct by certain employees and vendors providing contractors," it informed the exchanges. They elaborated that there have not been any financial dealings and broadly involve favouritism shown by certain employees in hiring the services of particular vendors. The TCS scrip had closed 0.66 per cent down at Rs 3,217.45 a piece on the BSE on Friday, as against a 0.41 per cent correction on the benchmark. (with PTI inputs)
