Phaneesh Murthy to offer consultancy in business strategy and restructuring 10 Dec, 2013, 03.58 AM IST. Two years ago, Phaneesh Murthy helped iGate acquire Patni Computer services, one of the oldest IT company from India, for $1.22 billion. COAI contends these licences, awarded to TTSL in January 2008, stand cancelled, according to the Supreme Court’s February 2012 order. The gas price based on average of April-June rates would come to $6.775 per mmBtu, much less than doubling of rates previously expected. The panel headed by C Rangarajan —chairman, Economic Advisory Council to the Prime Minister—also suggested gas-on-gas competition after five years. The ministry wants the Rangarajan Committee recommendation of pricing domestically produced natural gas at an average of international hub prices and cost of imported LNG instead of present mechanism of market discovery be accepted with a minor modification. 24 Year Of The Scam: Photos / Phaneesh Murthy's wife Photogallery Trending Now : Coronavirus Deepika Padukone Ranveer Singh Priyanka Chopra Ranbir Kapoor Alia Bhatt Akshay Kumar Salman Khan FOLLOW US ON:
The Infosys lawsuit was filed by Phaneesh's executive secretary Reka Maximovitch, a Bulgarian American national, complaining of sexual harassment and wrongful termination of her employment. No details are available as yet, but the exit will provide plenty of debate. Infosys paid $570,000 to Phaneesh Murthy as part of the final settlement of his dues when he resigned in July 2003 as head of Infosys' worldwide sales and marketing and from the company's board of directors. In January 2003, he founded Quintant Services, a BPO company, which was later acquired by iGate Global Solutions. India pays 12.67% of the international oil rate plus $0.26 per mmBtu to Qatar. Sources said the ministry said the Rangarajan panel report needs to be accepted so that domestically produced natural gas prices are fixed in a fair manner and in a way that incentivises production. However, Cairn India's eastern offshore Ravva gas, which is currently priced at $3.5-$4.3 per mmBtu, may be revised as per the committee recommendations. Watzinger possesses deep knowledge of iGATE’s business and he assumes his responsibilities as our Interim President and CEO with the full support of the Board.” The high point of his career in iGate was the acquisition of Patni Computers in 2011, which was the company from which NR Narayana Murthy and his friends exited to form Infosys Technologies and went on to create history. State-owned ONGC and Oil India (OIL) can, however, get the new rates this year itself for gas they produce from fields given to them on nomination basis by the government.
Earlier, in 2003, Infosys, India's second largest IT company, paid $3 million or about Rs15 crore for an out of court settlement in the sexual harassment lawsuit against Murthy who was the company's member of the board at that time. You are now a ETimes is an Entertainment, TV & Lifestyle industry's promotional website and carries advertorials and native advertising.
The Rangarajan Committee suggested averaging volume-weighted price of gas at US' Henry Hub, UK's NBP and Japan Customs Cleared prices for the trailing 12 months with the net price that producer got from exporting LNG to India on a long-term contract. At $100 per barrel oil rate, this translated into a gas price of $12.93. A statement by iGate innocuously says that Murthy was sacked for not disclosing his relationship with a subordinate. The panel had suggested taking a weighted average of the US, Europe and Japanese gas hubs or market price and then averaging it with the net imported price of liquefied natural gas (LNG) to give sale price of domestically produced gas. In One Place So That`s Its Easy for Anyone to Find Anytime He endorsed the view that the spectrum allocated to TTSL was quashed by the Supreme Court’s order, COAI said. The impact of every US dollar increase in gas price would be about Rs10,040 crore per annum on the power sector for 28,000 MW of electricity generating capacity.