Top L&T, Cognizant execs face corruption allegations – ET Infra

S. N. Subrahmanyan

NEW DEHI: The Vigilance and Anti-Corruption Unit in Chennai has accused past and present top executives of L&T and Cognizant of “criminal conspiracy” and other offences under the Prevention of Corruption Act for allegedly bribing officials of Chennai Metropolitan Development Authority (CMDA), state housing, urban development department, as well as the then minister, during the construction of the IT company’s ‘KITS Campus’ facility. The campus, in the SEZ in Chennai, was constructed between 2011 and 2016.

According to the FIR, the executives had colluded to allegedly pay a bribe of Rs 12 crore to functionaries in the state government for obtaining planning permit approval more than a year after beginning the work without a formal clearance. Around Rs 3.2 crore was also allegedly paid to a third-party liaison consultant appointed by the construction company for transfer of payment and dealing with TN government officials.

Those named in the FIR from L&T include S N Subrahmanyan, former construction head, Chennai and the present CEO & MD. Others named from the company are V Ramesh, former construction division head of L&T, Chennai; K Kannan, former business unit head of L&T Chennai (resigned in 2018); M V Sathish, former VP and head building and factories, L&T Chennai, and presently member of the board & senior VP.

Cognizant executives named in the FIR include R Srimanikandan, former VP (administration) & real estate officer, Cognizant India; T Sridhar Thiruvengadam, former COO of Cognizant India. Both companies have also been named in the FIR.

An L&T spokesperson said, “We are unable to comment as the matter is sub-judice. Our legal team is reviewing the developments and will take appropriate action. L&T, however, maintains an unwavering commitment to the highest standards of governance and ethical business conduct.” A Cognizant spokesperson said, “We will not comment as the matter is sub-judice. Cognizant is committed to complying with the law in all its jurisdictions of operations. We will cooperate with the local authorities, continue to monitor the situation and respond appropriately.”

  • Published On Aug 11, 2023 at 07:45 AM IST

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