The 140 year-old Japanese company is caught up in country’s biggest accounting scandal amounting $1.2 billion since 2011. It is believed that unrealistic standards set by top executives led to the scandal. Also, the president along with two other executives resigned from their position and withdraws from taking the responsibility.
Other Important Headlines
- Infosys posted a net profit of $476 Million in Q1 beating TCS for the first time in at least 2 years.
- Idea’s Q1 net profit rose Rs.202.6 crore from previous year.