Chairman N. Chandrasekaran addressed concerns raised during Tata Consultancy Services' (TCS) annual general meeting (AGM) on June 29, shedding light on the recruitment bribe case. As per his statement, TCS has taken action by imposing bans on approximately six employees and six business associate (BA) firms or staffing firms involved in the matter.
After almost a week of discussions and speculations, the senior-most executive from the company addressed the entire investigation process in the case and outlined the way forward. This marked the first public statement on the matter.
According to a report by CNBC, Chandrasekaran said, “We found six employees who did not follow ethical conduct. While we cannot quantify what favours they got but they certainly behaved in a way that they were favouring certain firms. We have banned all those six employees and six such BA companies. There are investigations pending on three more employees.”
In his statement, he mentioned that the company is conducting a thorough examination of the entire business associate (BA) supply management process to identify weaknesses. He emphasized the importance of enhancing the process to prevent any such incidents from occurring in the future.
“For a Tata Group company, the most important thing expected of every employee is ethical conduct and integrity in operations. That comes ahead of any financial performance. So whenever there is a violation of ethical conduct by any employee, it pains me and all the leaders very deeply. We take it extremely seriously and will take very strong actions,” Chandrasekaran added.