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<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> Chairman <a href="http://www.businessinsider.in/searchresult.cms?query=seshasayee&amp;sortorder=effectivedate">R Seshasayee</a> held a news conference and clarified there were no governance issues going on between the promoters and the board. 
 
During the news conference, Seshasayee stressed there was no ongoing battle, saying founders have nothing but best interests in mind. He cleared the air on <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>’s CEO <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal </a><a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Sikka</a>’s package, adding they were in line with global standards and linked to ambitious targets. 
Seshasayee also spoke about <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">Rajiv </a><a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">Bansal</a>’s severance pay and Punit Sinha’s appointment. 
 
Meanwhile, Sikka has allayed concerns over a corporate governance row. 
 
Here are the highlights from the news conference

Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speech

Country's second largest software services firm <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> announced the appointment of <keyword id="4715674" type="UNKNOWN" weightage="100" keywordseo="d-sundaram">D Sundaram</keyword> as an independent director with effect from July 14, according to PTI news report. The appointment is based on the recommendations of the Nomination and Remuneration Committee of the Board, Infosys said in a statement. <keyword id="120337" type="COMPANY" weightage="20" keywordseo="Sundaram">Sundaram</keyword> is currently the Vice Chairman and MD of TVS Capital Funds Ltd. He joined Unilever Group in 1975 and has served in various leadership capacities in Unilever Group in a career spanning over 34 years. "He (Sundaram) brings extensive experience in the field of finance and strategy execution," Infosys Chairman <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> said. Other independent directors on Infosys Board include Prof John W Etchemendy (<keyword id="101399" type="ORGANIZATION" weightage="20" keywordseo="Stanford-University">Stanford University</keyword>'s Provost), Roopa Kudva (former MD and CEO, Crisil), Dr Punita Kumar-Sinha (former Senior MD of Blackstone) and Jeffrey Sean Lehman (vice chancellor of <keyword id="4716260" type="UNKNOWN" weightage="20" keywordseo="nyu-shanghai">NYU Shanghai</keyword>). Ravi Venkatesan (former Microsoft India Chairman), Kiran Mazumdar-Shaw (Chairperson and MD of <keyword id="6358361" type="CITY" weightage="20" keywordseo="Biocon">Biocon</keyword>) and D N Prahlad (CEO of <keyword id="4716261" type="UNKNOWN" weightage="20" keywordseo="surya-software-systems">Surya Software Systems</keyword>) are also on Infosys' Board as independent directors.

Infosys appoints D Sundaram as independent director

<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal Sikka</a> dismissed rumours over wrongdoing in <keyword id="4172690" type="UNKNOWN" weightage="20" keywordseo="panaya-acquisition">Panaya acquisition</keyword> and said former CFO <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">Rajiv Bansal </a>did not raise any red flags during the deal. 
 Sikka said people are spreading wrong information and taking advantage of <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> controversy. 
 
READ ALSO: <a href="http://www.businessinsider.in/slideshows/warroom/infosys-r-seshasayee-vishal-sikka-say-no-battle-between-board-and-promoters-here-are-10-highlights-from-their-speech/slideshow/57130029.cms">Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speech</a> 
 
"There is a lot of irresponsibility and maliciousness in what you see. You don't appreciate that... the people who are feeding the wrong stories to the media. Lot of people, bystanders, the Monday morning quarterbacks. It is a price you pay for being at Infosys. I try to not lit get to me. Life is too short,” said Sikka. 
 
As per media reports, Bansal had raised red flags and expressed reservations during the Panaya acquisition. 
 "There is nothing there. He was CFO at the time we went through the process. It was the first time we were doing it, so we were extra careful. My view is that too big a deal has been made out of <keyword id="347003" type="PERSON" weightage="20" keywordseo="Rajiv-Bansal">Rajiv Bansal</keyword>'s severance, David's (Kennedy) severance, my compensation and Punita's (Kumar-Sinha) appointment,” said Sikka.

People are feeding wrong info, Panaya deal is clean: Vishal Sikka

Rift between the founders and the management board in <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys </a>has been widening since more than one year now. The two sides are at loggerheads over the large severance paid to former <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">CEO Rajiv Bansal</a>, disclosed in 2016, and<a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate"> CEO Vishal Sikka</a> ($11million). 
 
The founders are upset and as per several media reports, some promoters were also upset with the appointment of Punita Kumar-Sinha, an investment banker and wife of Union minister Jayant Sinha, as an independent director. 
 However, the main reason behind the dispute is governance issue and “violation of core <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> values”. 
 
ET reported some of the founders have held the board responsible for what they perceive to be its inability to enforce governance norms. In July 2016, one of Infosys' prominent promoters reached out to a top legal professional in Mumbai. 
 The agenda: to hunt for a co-chairman for Infosys. This, despite the fact that <keyword id="484178" type="PERSON" weightage="20" keywordseo="R-Seshasayee">R Seshasayee</keyword> had been serving as Infosys non-executive chairman for just a year, since his appointment in June 2015. 
 
"The idea was to look for someone who understood core values of Infosys,” an executive told ET. 
 
A few names were thrown up as candidates, including a former Infosys finance hotshot and a retired founder. But the idea fizzled out as Seshasayee stepped down on July 28 as non-executive vice-chairman of Ashok Leyland - a post he had held since 2011- to focus on Infosys. 
 
Industry experts told ET the situation is not yet past the point of no return. "The end goal is the promoters, the board and the management should be aligned. I don't think the situation is irredeemable. If the founders air their problems, this could still be resolved. This isn't like the Tata case,” Shriram Subramanian, MD of shareholder advisory firm InGovern, told ET. 
 
Meanwhile, efforts are going on resolve the dispute. ET quoted two people saying among those involved is a prominent investor in the company - Baburaj Pillai. 
 
Reports of disputes over "internal governance issues, between some of the company's founders and a management keen on charting a new path have spurred efforts to broker peace by the Singapore-based fund manager as well as other influential people, said the sources cited above. 
 
Pillai, the founder of investment firm Arohi Capital, met with co-founder <a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">NR Narayana Murthy </a>and chief executive officer <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> late last year, according to people aware of the talks. 
 
"Pillai met with both of them to try and create common ground. He does not want Sikka to be forced to leave and he also does not want Murthy to feel as though his voice is not important,” one of the people aware of the discussions told ET. 
 
"With regard to concerns on governance being discussed in the media, we would like to reiterate that all decisions have been made bona fide, in the overall interest of the company, and that full disclosures have already been made thereon,” Infosys told ET in a statement.

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