Rajiv Bansal moves tribunal as Infosys is yet to pay him Rs 12 crore, part of controversial severance package

A portion of severance package of former Infosys CFO Rajiv Bansal is still left and he is fighting for it. The amount which is due comes to Rs 12 crore.

Apparently, Infosys founders questioned the severance package given out to Bansal and since then it has been stuck.

When Bansal left in 2015, Infosys had agreed to pay him Rs 17.38 crore as severance, about two years of pay. But the company paid out only about Rs 5 crore before suspending the payments.

As per reports, Bansal has moved an arbitral tribunal.

"Certain payments to Rajiv under the agreement have been suspended pending certain clarifications with regard to such rights and obligations," Infosys had said in a statement.

"The company has already clarified on the severance package for the former CFO Rajiv Bansal through a detailed statement. We do not have anything additional to add at this point,” Infosys said in a statement. News of the arbitration was first broken by The Times of India.