Financials

Corporate

Infosys was incorporated in Pune, in 1981, as Infosys Consultants Private Limited, a private limited company under the Indian Companies Act, 1956. In 1983, the corporate headquarters was relocated to Bangalore. The name of the Company was changed to Infosys Technologies Private Limited in April 1992 and to Infosys Technologies Limited in June 1992, when the Company became a public limited company. We made an initial public offering in February 1993 and were listed on stock exchanges in India in June 1993. Trading opened at 145 per share, compared to the IPO price of 95 per share. In October 1994, we made a private placement of 5,50,000 shares at 450 each to Foreign Institutional Investors (FIIs), Financial Institutions (FIs) and body corporates.

In March 1999, we issued 20,70,000 American Depositary Shares (ADSs) (equivalent to 10,35,000 equity shares of par value 10 each) at US $34 per ADS under the ADS Program, and the same were listed on the NASDAQ National Market. All the above data is unadjusted for stock split and bonus shares. During July 2003, June 2005 and November 2006, we successfully completed secondary sponsored ADR issues of US $294 million, US $1.1 billion and US $1.6 billion, respectively.

During fiscal 2012, we changed our name from Infosys Technologies Limited to Infosys Limited to mark the transition from being a technology services provider to a business transformation partner for our clients.

During fiscal 2013, we delisted our ADSs from NASDAQ, and listed the same in the New York Stock Exchange (NYSE), Euronext London and Euronext Paris markets. The delisting and listing was made to leverage the Euronext partnership, since both the U.S. and Europe are home to many of our investors, clients and employees.

The Company’s financial year begins on April 1 and ends on March 31, every year. The address of our registered office is Electronics City, Hosur Road, Bangalore 560 100, Karnataka, India.

Bonus issues and stock split

Fiscal year

1986

1989

1991

1992

1994

1997

1999

2005

2007

2015

(1) 2016

Bonus

1:1

1:1

1:1

1:1

1:1

1:1

1:1

3:1

1:1

1:1

1:1

Notes: In addition to issuing the above bonus shares, the Company split the stock in the ratio of 2 to 1 in fiscal 2000.

(1) The Company had allotted bonus shares in the ratio of 1:1 pursuant to a bonus issue approved by shareholders in June 2015.

Dividend policy

Our earlier policy was to pay dividend of up to 40% of the consolidated post tax profits. At the Board meeting held on April 24, 2015, the Board decided to increase the dividend payout ratio to up to 50% of consolidated post tax profits effective fiscal 2015.

Unclaimed dividend

Section 205A of the Companies Act, 1956 (Section 124 of the Companies Act, 2013) mandates that companies transfer dividend that has been unclaimed for a period of seven years from the unpaid dividend account to the Investor Education and Protection Fund (IEPF). In accordance with the following schedule, the dividend for the years mentioned as follows, if unclaimed within a period of seven years, will be transferred to the IEPF:

Year

Type of dividend

Dividend per share ()

Date of declaration

Due date for transfer

Amount
() (1)

2009

Final

13.50

Jun 20, 09

Jul 25, 16

16,12,793

2010

Interim

10.00

Oct 09, 09

Nov 14, 16

13,46,070

Final

15.00

Jun 12, 10

Jul 17, 17

17,76,615

2011

Interim (2)

40.00

Oct 15, 10

Nov 20, 17

28,87,200

Final

20.00

Jun 11, 11

Jul 16, 18

21,39,240

2012

Interim

15.00

Oct 12, 11

Nov 17, 18

17,86,860

Final (3)

32.00

Jun 09, 12

Jul 14, 19

27,30,720

2013

Interim

15.00

Oct 12, 12

Nov 17, 19

19,27,200

Final

27.00

Jun 15, 13

Jul 20, 20

29,17,566

2014

Interim

20.00

Oct 18, 13

Nov 23, 20

32,86,720

Final

43.00

Jun 14, 14

Jul 19, 21

26,46,994

2015

Interim

30.00

Oct 10, 14

Nov 14, 21

24,45,600

Final

29.50

Jun 22, 15

Jul 23, 22

31,81,634

2016

Interim

10.00

Oct 12, 15

Nov 17, 22

1,73,73,370

(1) Amount unclaimed as on March 31, 2016.

(2) Includes 30th year special dividend of 30 per share.

(3) Includes special dividend of 10 per share on the successful completion of 10 years of Infosys BPO operations.

The Company sends periodic communication to the concerned shareholders, advising them to lodge their claims with respect to unclaimed dividend. Shareholders are cautioned that once unclaimed dividend is transferred to the IEPF, no claim shall lie in respect thereof with the Company.

Dividend remitted to IEPF during the last three years

Fiscal year

Amount ()

2016

40,98,537

2015

13,06,229

2014

11,06,794

Investor services

Tentative calendar

Quarter ending

Earnings release

Trading window closure

Jun 30, 2016

Jul 15, 2016

Jun 16, 2016 to Jul 17, 2016

Sep 30, 2016

Oct 14, 2016

Sep 16, 2016 to Oct 16, 2016

Dec 31, 2016

Jan 13, 2017

Dec 16, 2016 to Jan 15, 2017

Mar 31, 2017

Apr 13, 2017

Mar 16, 2017 to Apr 15, 2017

Annual General Meeting

Date and time

June 18, 2016, Saturday, 3:00 p.m. IST

Venue

The Christ University Auditorium, Hosur Road, Bangalore 560 029

Book closure date

June 11, 2016

Dividend payment date

June 20, 2016

Investor awareness

We are committed to maintaining the highest standards of corporate governance. In continuation of our efforts in that direction, we have provided a synopsis of some of your rights and responsibilities as a shareholder on our website, www.infosys.com. We encourage you to visit our website and read the document. We hope that the document will give you appropriate guidance, and answer any questions regarding your rights as a shareholder.

Dematerialization of shares and liquidity

Infosys shares are tradable compulsorily in the electronic form. Through Karvy Computershare Private Limited, Registrars and Share Transfer Agents, we have established connectivity with both the depositories, that is, National Securities Depository Limited (NSDL) and Central Depository Services (India) Limited (CDSL). The International Securities Identification Number (ISIN) allotted to our shares under the Depository System is INE009A01021.

As on March 31, 2016, 99.79% of our shares were held in dematerialized form and the rest in physical form.

We were the first company in India to pay a one-time custodial fee of 44.43 lakh to NSDL. Consequently, our shareholders do not have to pay depository participants the custodial fee charged by NSDL on their holding.

Shares held in demat and physical mode as on March 31, 2016 are as follows:

Category

Number of

% to total equity

shareholders

shares

Demat mode

NSDL

4,36,166

2,26,35,03,390

98.54

CDSL

1,50,144

2,86,10,623

1.25

Total

5,86,310

2,29,21,14,013

99.79

Physical mode

431

48,30,651

0.21

Grand total

5,86,741

2,29,69,44,664

100

To enable us to serve our investors better, we request shareholders whose shares are in the physical mode to dematerialize their shares and update their bank accounts with the respective depository participants.

Secretarial audit

Pursuant to Section 204 of the Companies Act, 2013 and Rules thereunder, the Board of Directors of the Company appointed Parameshwar G. Hegde, Practicing Company Secretary, to conduct Secretarial Audit of records and documents of the Company. The Secretarial Audit Report confirms that the Company has complied with all the applicable provisions of the Companies Act, 2013, Depositories Act, 1996, Listing Agreements with the Stock Exchanges, and all the Regulations and Guidelines of the Securities and Exchange Board of India (SEBI), as applicable to the Company. The audit also covers the reconciliation on a quarterly basis, the total admitted capital with NSDL and CDSL, and the total issued and listed capital. The audit has confirmed that the total issued / paid-up capital is in agreement with the aggregate total number of shares in physical form and the total number of dematerialized shares held with NSDL and CDSL. Further, the Company voluntarily adheres to the various Secretarial Standards issued by the Institute of Company Secretaries of India.

Investor complaints

Nature of complaints

Received

Attended

2016

2015

2016

2015

Dividend / Annual Report related

594

492

594

492

We attended to most of the investors’ grievances / correspondences within a period of 10 days from the date of receipt of such grievances. The exceptions have been for cases constrained by disputes or legal impediments.

Designated email address for investor services

In terms of Regulation 62(C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the designated email address for investor complaints is investors@infosys.com.

Legal proceedings

There are certain pending cases related to disputes over title to shares in which we had been made a party. However, these cases are not material in nature.

Shareholders holding more than 1% of the shares

The details of shareholders (non-founders) holding more than 1% of the equity as on March 31, 2016 are as follows:

Name of the shareholder

No of shares

%

Life Insurance Corporation of India (1)

13,22,74,300

5.76

Government of Singapore (2)

5,51,04,357

2.40

Abu Dhabi Investment Authority (2)

5,46,82,320

2.38

Oppenheimer Developing Markets Fund (4)

4,64,11,362

2.02

HDFC Trustee Company Ltd –
HDFC Retirement Savings Fund (3)

3,29,07,798

1.43

ICICI Prudential Life Insurance
Company Ltd (1)

2,97,85,427

1.30

Vanguard Emerging Markets Stock Index Fund, Aserie (2)

2,90,66,065

1.27

(1) Insurance company

(2) Foreign institutional investor

(3) Indian mutual fund

(4) Foreign portfolio investor

Distribution of shareholding as on March 31, 2016

Category (shares)

No. of cases

% to cases

No. of shares

% to equity

1

8,124

1.38

8,124

0.00

2-10

1,14,399

19.50

7,67,106

0.03

11-50

2,38,855

40.71

69,68,875

0.30

51-100

89,384

15.23

70,86,339

0.31

101-200

59,113

10.08

92,63,149

0.40

201-500

40,300

6.87

1,34,54,907

0.59

501-1,000

14,786

2.52

1,08,80,029

0.48

1,001-5,000

14,037

2.39

3,17,17,985

1.38

5,001-10,000

2,594

0.44

1,88,06,607

0.82

10,001 and above

5,149

0.88

2,19,79,91,543

95.69

Total

5,86,741

100.00

2,29,69,44,664

100.00

Share transfers in physical form

Shares sent for physical transfer are effected after giving a 15-day notice to the seller for confirmation of the sale. Our share transfer committee meets as often as required. The total number of shares transferred in physical form during the year was 15,000, as against 70 for the previous year.

Listing on stock exchanges

Codes

India

Global

NSE

BSE

NYSE

Exchange

INFY

500209

INFY

Reuters

INFY.NS

INFY.BO

INFY.K

Bloomberg

INFO IS

INFO IB

INFY UN

The listing fees for fiscal 2016 have been paid for all of the above stock exchanges in India and overseas.

ISIN Code for ADS: US4567881085

Shareholding pattern

Shareholding pattern of the Company in detail is presented in MGT-9 enclosed to the Board’s report as Annexure 6.

Stock market data relating to shares listed in India and NYSE

Our market capitalization is included in the computation of the BSE 30 Sensitive Index (Sensex), the BSE Dollex, the S&P CNX NIFTY Index, Dow Jones Global Titans 50 and NYSE. The monthly high and low quotations, as well as the volume of shares traded at the BSE, the NSE, and NYSE for the current year are provided as follows:

Stock market data – Exchanges in India

2015-16

BSE

NSE

Volume

Months

High ()

Low ()

Volume (No.)

High ()

Low ()

Volume (No.)

(BSE & NSE) (No.)

April

1,122.00

966.30

87,26,194

1,122.50

966.15

11,05,82,190

11,93,08,384

May

1,030.50

955.00

86,09,212

1,030.95

954.00

8,20,35,184

9,06,44,396

June

1,031.50

968.50

51,67,426

1,032.00

968.00

6,98,87,272

7,50,54,698

July

1,127.75

932.55

51,87,880

1,149.00

932.65

8,85,45,667

9,37,33,547

August

1,186.00

1,045.00

40,63,176

1,186.20

1,044.50

8,79,08,192

9,19,71,368

September

1,165.35

1,052.35

29,54,461

1,168.95

1,052.30

8,26,06,053

8,55,60,514

October

1,219.00

1,087.10

46,61,304

1,219.80

1,085.20

8,94,34,980

9,40,96,284

November

1,155.60

1,012.25

28,40,405

1,157.60

1,011.25

5,62,77,522

5,91,17,927

December

1,110.00

1,023.50

31,07,839

1,110.00

1,022.55

5,83,22,483

6,14,30,322

January

1,169.70

1,031.85

46,56,171

1,170.00

1,030.85

7,82,68,786

8,29,24,957

February

1,193.60

1,067.00

45,50,793

1,194.95

1,067.00

5,38,47,523

5,83,98,316

March

1,234.65

1,089.00

38,44,043

1,237.00

1,094.80

7,88,00,532

8,26,44,575

Total

5,83,68,904

93,65,16,384

99,48,85,288

Volume traded / Average outstanding shares (%)

FY 2015-16

3

49

52

FY 2014-15

5

62

67

FY 2013-14

5

61

66

Notes: Adjusted for bonus issue.

The number of shares outstanding is 1,91,16,26,727 as of March 31, 2016. ADSs have been excluded for the purpose of this calculation.

Stock market data – NYSE

2015-16

High ($)

Low ($)

High ()

Low ()

Volume (No.)

Months

April

18.22

15.44

1,155.69

979.36

16,50,37,564

May

16.10

15.26

1,027.50

973.89

9,78,63,386

June

16.36

15.30

1,041.31

973.85

9,74,95,490

July

17.90

15.32

1,148.11

982.62

9,40,30,657

August

18.23

15.90

1,212.11

1,057.19

8,82,77,233

September

19.16

16.75

1,256.70

1,098.63

8,96,57,860

October

19.46

17.24

1,270.15

1,125.25

11,01,86,101

November

18.61

15.72

1,240.91

1,048.21

7,66,10,364

December

17.06

15.87

1,128.69

1,049.96

6,72,57,134

January

18.07

15.76

1,224.97

1,068.37

10,29,96,871

February

17.90

15.91

1,224.90

1,088.72

11,97,22,502

March

19.32

17.12

1,280.14

1,134.37

8,12,34,527

Total

1,19,03,69,689

Notes: Adjusted for bonus issue.

1 ADS = 1 equity share. The US dollar has been converted into the Indian rupee at the monthly closing rates. The number of ADSs outstanding as on March 31, 2016 was 38,53,17,937. The percentage of volume traded for the year at NYSE, to the total float was 309%.

ADS premium compared to price quoted on BSE

Outstanding ADSs

Our ADSs, as evidenced by American Depositary Receipts (ADRs), are traded in the U.S. on the NYSE at New York, Euronext London and Euronext Paris under the ticker symbol ‘INFY’. The currency of trade of ADS in the U.S. is USD and at London and Paris is Euro (EUR). Each equity share is represented by one ADS. The ADRs evidencing ADSs began trading on the NYSE, New York, from December 12, 2012, and Euronext London and Paris from February 20, 2013, when they were listed pursuant to the Listing Agreement entered with the NYSE. As on March 31, 2016, there were 30,199 record holders of ADRs evidencing 385,317,937 ADSs (1 ADS = 1 equity share).

Infosys share price versus the BSE Sensex

Notes: Adjusted for bonus issues and stock split

Base 100 = April 1, 2015

Share price chart

We caution that the historical stock price performance shown in the following graph should not be considered indicative of potential future stock price performance.

Notes: Adjusted for bonus issues and stock split

Base 100 = February 1993

Investor contacts

For queries relating to financial statements

M. D. Ranganath

Chief Financial Officer

Tel: 91 80 2852 1692

Fax: 91 80 2852 0754

Email: ranganath_m@infosys.com

Investor correspondence

Sandeep Mahindroo

AVP - Financial Controller and Head - Investor Relations

Tel: 91 80 3980 1018 Fax: 91 80 2852 0754

Email: sandeep_mahindroo@infosys.com

For queries relating to shares / dividend / compliance

A. G. S. Manikantha

Company Secretary

Tel: 91 80 4116 7775 Fax: 91 80 2852 0754

Email: manikantha_ags@infosys.com

For queries relating to Business responsibility report

Aruna C. Newton

Associate Vice President

Tel: 91 80 2852 0261

Email: arunacnewton@infosys.com

Registrar and share transfer agents

Karvy Computershare Private Limited

Plot 31-32, Gachibowli, Financial District

Nanakramguda, Hyderabad – 500 032

Contact person

Shobha Anand

Assistant General Manager

Tel: 91 40 67161559

Email: shobha.anand@karvy.com

Depository bank (ADS)

United States

Deutsche Bank Trust Company Americas

Deutsche Bank, 60 Wall Street, 16th Floor

Global Transaction Banking

Global Equity Services – Depositary Receipts

New York 10005, NY, U.S.

Tel: 1 212 250 2500 Fax: 1 732 544 6346

India

Deutsche Bank AG, Filiale Mumbai

Global Transaction Banking / Global Equity Services –

Depositary Receipts, The Capital, C-70, G Block

Bandra Kurla Complex, Mumbai 400 051, India

Tel: 91 22 7180 4444 Fax: 91 22 7180 4122

Custodian in India (ADS)

ICICI Bank Limited

Securities Market Services

1st Floor, Empire Complex,

414, Senapati Bapat Marg,

Lower Parel, Mumbai 400 013,

Maharashtra, India.

Tel: 91 22 66672756 / 2019/ 2742

Fax: 91 22 6667 2740

Sponsor Bank for ADS in Europe

BNP Paribas Securities Services

CTS Services Aux Emetteurs

Les Grands Moulins De Pantin

9 Rue du Débarcadère

93761 Pantin Cedex, France

Tel: 33 1 42 98 10 00 / 33 1 55 77 40 57

Addresses of regulatory authority / stock exchanges

In India

Securities and Exchange Board of India

Plot No. C4-A, G Block, Bandra Kurla Complex

Bandra (East), Mumbai 400 051, India

Tel: 91 22 2644 9000, 91 22 4045 9000

Fax: 91 22 2644 9019-22, 91 22 4045 9019-22

National Stock Exchange of India Ltd.

Exchange Plaza, Plot No. C/1, G Block

Bandra Kurla Complex

Bandra (East), Mumbai 400 051, India

Tel: 91 22 2659 8100 Fax: 91 22 2659 8120

BSE Ltd.

Phiroze Jeejeebhoy Towers

Dalal Street, Kala Ghoda, Mumbai 400 001, India

Tel: 91 22 2272 1233 Fax: 91 22 2272 1919

Outside India

New York

NYSE Euronext, New York

11 Wall Street, New York, NY 10005, U.S.

Tel: 1 212 656 3000 Fax: 1 212 656 5549

London

Euronext, London

Juxon House, 100 St. Paul’s Churchyard

London EC4M 8BU

Tel: 44 20 7280 6850 / 44 20 7076 0900

Paris

Euronext, Paris

14, place des Reflets

92054 Paris La Défense Cedex

Tel +33 (0)1 70 48 24 00

Depository for equity shares in India

National Securities Depository Limited

Trade World, ‘A’ Wing, 4th Floor

Kamala Mills Compound

Senapati Bapat Marg, Lower Parel

Mumbai 400 013, India

Tel: 91 22 2499 4200 Fax: 91 22 2497 6351

Central Depository Services (India) Limited

Phiroze Jeejeebhoy Towers, 17th Floor

Dalal Street, Fort, Mumbai 400 001, India

Tel: 91 22 2272 3333 Fax: 91 22 2272 3199

R Seshasayee

Chairman of the Board and Independent

R. Seshasayee is the Chairman of the Board of Directors, Infosys.

Seshasayee, a chartered accountant, started his career with Hindustan Lever Ltd. in 1971.

He joined Ashok Leyland in 1976, rose to become the Executive Director – Finance in 1983 and was elevated to Deputy Managing Director in 1993 and Managing Director in 1998. He became the Executive Vice Chairman of Ashok Leyland in 2011, and is presently the Non-Executive Vice Chairman of the company.

He led Ashok Leyland’s transformation into a self-reliant, globally competitive technology leader seeking growth through globalization and diversification, with acquisitions and joint ventures. He also led the company to embrace the tenets of sustainable development and environmental protection. During his tenure as the Managing Director from 1998-99 to 2010-11, Ashok Leyland’s turnover increased five times from Rs.2045 Cr to Rs. 12093 Cr, net profit thirty times, and market cap fourteen times.

Seshasayee has been the Chairman of IndusInd Bank from 2007 till date. During this period, both net profit and market cap of the bank increased twenty six times.

Seshasayee is presently Vice Chairman, Hinduja Group India. Hinduja Group is a multi-billion, transnational group, with global presence in banking and finance, automotive, infrastructure, specialty chemicals, realty, etc.

He served on the Board of ICICI Ltd./ICICI Bank from 1997-2003 He has been on the Board of Infosys Ltd. from January 2011. He was the Chairman of the Audit Committee.

Seshasayee was the President of Confederation of Indian Industry (CII) during 2006-07 and has been an active leader of CII for over 20 years. He was the President of the Society of Indian Automobile Manufacturers (SIAM), the apex body representing the Indian automobile industry during 2001-03.

Seshasayee has served on several government and professional committees.

As a member of Government of India delegations, Seshasayee was an active participant at the Doha Ministerial Round of WTO in 2001 and the Hong Kong Ministerial at Hong Kong in 2005. Seshasayee was also the Co-Chair of the World Economic Forum – Middle East during 2007.

He has served as the Chairman of the Board of Governors of the National Institute of Technology, Tiruchirapalli (NIIT) and as the Chairman of the Indian Institute of Information Technology Design and Manufacturing (IITD & M), Kancheepuram.

Seshasayee is the Chairman of the Executive Council of the Cancer Institute, Chennai; President of Schizophrenia Research Foundation (SCARF); and Vice President of the Music Academy, Chennai.

Seshasayee has won many honors and recognitions, including the Star of Italian Solidarity award from the Italian Government, Sir Jehangir Ghandy Medal for Industrial and Social Peace from XLRI, Jamshedpur, and the Lifetime Achievement Award from the Institute of Chartered Accountants of India.

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Dr. Vishal Sikka

Chief Executive Officer and Managing Director

Dr. Sikka joined Infosys in 2014 to help transform the company during a time of significant change in the services industry, change that was brought on by the cost imperatives of clients on the one hand, and significant and rapid advancements in technology on the other hand. Since joining Infosys, Dr. Sikka has implemented a strategy of helping clients renew their existing landscapes to fundamentally drive down costs using automation and artificial intelligence, and at the same time bring breakthrough innovation that transforms user and consumer experiences, opens new business opportunities and new business models, and leverages data in entirely new ways. Key initiatives such as Zero Distance, which focuses on finding innovation in every project for every client, on an ongoing basis, has set a precedent in the industry for driving grassroots innovation. Similarly, the notion of looking at technology as an amplifier of human potential has enabled the company to bring together services, software and platforms in a way that drives unprecedented value for companies across every industry.

In addition, Dr. Sikka has created a strong focus on learning and education within Infosys, a culture which not only drives value for clients and the entire Infosys ecosystem, but extends outside the company as well. Infosys is helping clients in their efforts to create learning and collaborative cultures – helping them to find the most important problems to solve using Design Thinking as the framework, to rethink existing processes leveraging technology, to find new ways of working as teams and as individuals, and to build incredible talent, skills and passion across teams.

Prior to joining Infosys, Dr. Sikka was a member of the Executive Board of SAP SE, leading all products and technologies, including all of product development, and driving innovation globally. In his 12 years at SAP, Dr. Sikka held several senior leadership roles including becoming SAP’s first-ever CTO in 2007. As CTO, Dr. Sikka was responsible for overall technology architecture and ensuring coherence in SAP’s product strategy. During that time and later when he joined the Executive Board of SAP, Dr. Sikka brought a strong focus on delivering innovation non-disruptively, simplifying customers landscapes, and delivering new and delightful user experiences.

When Dr. Sikka joined the SAP Executive Board in February 2010, he brought this same focus to all of product development and was instrumental in building a culture of innovation at SAP; innovation became the focus and was at the heart of everything the company developed and delivered to customers. Among other things, Dr. Sikka is credited with creating SAP’s breakthrough in-memory data platform SAP HANA, the fastest growing product in SAP’s history. He also accelerated SAP’s development processes, bringing a deep focus on design and user experience, creating a culture of innovation, initiating for the first time in company history a focus on startups, driving venture investments, and leading product incubation as well as co-innovation with customers.

Dr. Sikka is the creator of ‘timeless software,’ a framework which articulates the principles of renewing existing processes and landscapes without disruption to customer environments. The principles of Timeless Software provide the foundation to ensuring there is no longer a trade-off between leveraging breakthrough innovation and ensuring the consistency, reliability and coherence of systems and user experiences. Dr. Sikka is especially known for his championship of technology as an amplifier of human potential and his passion for applying software in purposeful ways to address some of the biggest global challenges.

His experience includes research in artificial intelligence, intelligent systems, programming languages and models, and information management – at Stanford University, at Xerox Palo Alto Labs, and as the founder of two startups.

Dr. Sikka received his BS in Computer Science from Syracuse University. He holds a Ph.D. in Computer Science from Stanford University.

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Pravin Rao

Chief Operating Officerand Whole-time Director

As the Chief Operating Officer, Pravin Rao is responsible for driving growth and differentiation across portfolios at Infosys. Additionally, he oversees global delivery, quality and productivity, the supply chain and business enabler functions. He is also the Chairperson of Infosys BPO.

Pravin has over 28 years of experience. Since joining Infosys in 1986, he has held a number of senior leadership roles such as Head of Infrastructure Management Services, Delivery Head for Europe, and Head of Retail, Consumer Packaged Goods, Logistics and Life Sciences. Pravin holds a degree in electrical engineering from Bangalore University, India.

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Kiran Mazumdar-Shaw

Independent Director

Kiran Mazumdar-Shaw is Chairperson and Managing Director of Biocon Limited, a biotechnology company based in Bangalore, India.

Kiran is highly respected in the corporate world and has been named among TIME magazine’s 100 most influential people in the world. The Economic Times placed her at India Inc.’s top 10 most powerful women CEOs for the year 2012. Her pioneering efforts in biotechnology have drawn global recognition for both the Indian industry and Biocon.

Kiran holds a bachelor’s degree in Zoology from Bangalore University, India, and is qualified as a Master Brewer from Ballarat University, Australia. She has also received many honorary doctorates in recognition of her pre-eminent contributions to the field of biotechnology.

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Roopa Kudva

Independent Director

Roopa Kudva is Managing Director of Omidyar Network India Advisors and Omidyar Network partner. Omidyar Network is a US-based philanthropic investment firm.

Previously, she was the MD and CEO of CRISIL, a global analytical company providing ratings, research, and risk and policy advisory services. She has led CRISIL’s evolution from a leading Indian rating agency to a diversified analytical company with clients ranging from the largest investment banks of the world to tens of thousands of small firms spread across India. Under her leadership, CRISIL’s market capitalization has grown four-fold from Rs. 2,900 crores to Rs. 14,000 crores, and revenues have tripled.

Ms. Kudva regularly features in lists of the most powerful women in business compiled by prominent publications, including Fortune and Business Today. She is a recipient of several prestigious awards including the ‘Outstanding Woman Business Leader of The Year’ at CNBC TV18’s ‘India Business Leader Awards 2012’, India Today ‘Corporate Woman Award 2014’ and Indian Merchants’ Chamber Ladies' Wing’s ‘Woman of the Year’ Award 2013-14.

Ms. Kudva is a member of several policy-level committees relating to the Indian financial system, including committees of the Securities and Exchange Board of India and the Reserve Bank of India. She has also been a member of the Executive Council of NASSCOM. She is a regular speaker at global conferences and seminars by multilateral agencies, market participants, and leading academic institutions.

Ms. Kudva holds a postgraduate diploma in management from Indian Institute of Management, Ahmedabad (IIM-A) and also received the ‘Distinguished Alumnus Award’ from her alma mater.

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Ravi Venkatesan

Independent Director

Ravi Venkatesan is a Director on the Boards of Infosys and AB Volvo, and a Fellow of the Center for Higher Ambition Leadership, Boston. He is an advisor to several family businesses and entrepreneurial ventures. He is also a member of the Advisory Board of Bunge Ltd., the Global Alumni Board of Harvard Business School, and of Marico Innovation Foundation. Ravi is a founding partner and Chairman of Social Venture Partners, India – a network of engaged philanthropists attempting to address complex social issues through venture philanthropy.

Between 2004 and 2011, Ravi was the Chairman of Microsoft India, which, under his leadership, became Microsoft's second largest and one of its fastest growing geographies. It was also consistently rated among the best employers and most respected companies in India. He was instrumental in helping Microsoft India create ‘Shiksha’, a large computer literacy program that helped train over 35 million students from disadvantaged backgrounds.

Prior to Microsoft, Ravi spent sixteen years with Cummins Inc. As Chairman of Cummins India Limited, he oversaw the company’s transformation into a leading provider of power solutions and automotive engines in India. He also played a key role in establishing the Cummins College of Engineering, India's first engineering college for women, in Pune.

Ravi was voted the most influential MNC CEO for 2011 by the Economic Times daily. He has authored the book, “Conquering the Chaos: Win in India, Win Everywhere”.

Ravi holds a bachelor’s degree in mechanical engineering from the Indian Institute of Technology, Bombay; a master’s in engineering from Purdue University; and a Master of Business Administration from Harvard Business School, where he was a Baker Scholar. Ravi was awarded the Distinguished Engineering Alumnus award in 2011 by Purdue University, and the Distinguished Alumnus award by the Indian Institute of Technology.

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Dr. Punita Kumar-Sinha

Independent Director

Dr. Punita Kumar-Sinha has focused on investment management and financial markets during her 25-year career. She spearheaded some of the first foreign investments into the Indian equity markets in the early 1990s. Currently, she is the Founder and Managing Partner, Pacific Paradigm Advisors, an independent investment advisory and management firm focused on Asia. Dr. Kumar-Sinha is also a Senior Advisor and serves as an Independent Director for several companies. Prior to founding Pacific Paradigm Advisors, she was a Senior Managing Director of Blackstone and the Chief Investment Officer of Blackstone Asia Advisors. Dr. Kumar-Sinha was also the Senior Portfolio Manager and CIO for The India Fund (NYSE:IFN), the largest India Fund in the US, for almost 15 years, The Asia Tigers Fund (NYSE:GRR), and The Asia Opportunities Fund.

Prior to joining Blackstone, Dr. Kumar-Sinha was a Managing Director and Senior Portfolio Manager at Oppenheimer Asset Management Inc., and CIBC World Markets, where she helped open one of the first India advisory offices for a foreign firm. She also worked at Batterymarch (a Legg Mason company), Standish Ayer & Wood (a BNY Mellon company), JP Morgan and IFC/World Bank.

Dr. Kumar-Sinha has been frequently featured in the media, including: The Financial Times, The New York Times, The Wall Street Journal, Barron’s, Forbes, CNN, CNBC, Fox News, Star News, Bloomberg , ET Now and The Economic Times. She has also anchored a TV series on ET NOW on various global economies, key Indian policy issues and their impact on capital markets. Dr. Kumar-Sinha has been a speaker at many forums and many of her contributions at seminars and conferences have projected the potential and prospects of Asia as an investment destination.

Dr. Kumar-Sinha has a Ph.D. and a Masters in Finance from the Wharton School, University of Pennsylvania. She received her undergraduate degree in chemical engineering with distinction from the Indian Institute of Technology, New Delhi. She is an MBA and also a CFA Charter holder. Dr. Kumar-Sinha is a member of the CFA Institute, the Boston Security Analysts Society and the Council on Foreign Relations. She is a Charter Member and was a Board Member of TIE-Boston. Dr. Kumar-Sinha has been awarded the Distinguished Alumni Award from IIT Delhi.

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Prof. Jeffrey Sean Lehman

Independent Director

Prof. Jeffrey Sean Lehman is the inaugural vice chancellor of NYU Shanghai. He has previously been founding dean of the Peking University School of Transnational Law, president of Cornell University, dean of the University of Michigan Law School, a tenured professor of law and public policy at the University of Michigan, a practicing lawyer in Washington, D.C., a law clerk to Associate Justice John Paul Stevens of the U.S. Supreme Court, and a law clerk to Chief Judge Frank M. Coffin of the U.S. Court of Appeals for the First Circuit.

Jeffrey is also chancellor of the Peking University School of Transnational Law, a nonresident senior scholar at the Woodrow Wilson International Center for Scholars, a member of the international advisory board of the Nazareth Academic Institute, and an American representative in the U.S.-China Legal Experts Dialogue.

He previously served as president of the American Law Deans Association, as chair of the board of Internet2, and as a member of the boards of trustees of the Consortium on Financing Higher Education, the Skadden Fellowship Foundation, and the Asian University for Women Support Foundation.

Jeffrey’s honors include the Friendship Award from the People’s Republic of China, the National Equal Justice Award from the NAACP Legal Defense and Educational Fund, Inc., an honorary doctorate from Peking University, honorary professorships from several other universities, and membership in the American Law Institute. Jeffrey earned a bachelor’s degree in mathematics from Cornell University and degrees in law and public policy from the University of Michigan.

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Prof. John W. Etchemendy

Independent Director

John W. Etchemendy is the Provost of Stanford University and Patrick Suppes Family Professor in the School of Humanities and Sciences.

Professor Etchemendy is also a faculty member of the Symbolic Systems Program and a senior researcher at the Center for the Study of Language and Information (CSLI). He has received the Dean’s Award for Excellence in Teaching (1988), and the Bing Award for Excellence in Teaching (1992). In addition, he is also the recipient of the Educom Medal for leadership in the application of technology to teaching. Professor Etchemendy received his B.A. and M.A. in Philosophy from the University of Nevada, Reno. He earned his doctorate in Philosophy at Stanford University. He served on the faculty at Princeton University for two years before joining the Department of Philosophy at Stanford as a faculty member.

Professor Etchemendy is the author of numerous books and articles on logic, some co-authored with several close collaborators. He has been co-editor of the Journal of Symbolic Logic and is on the editorial board of several other journals.

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