Infosys lists reservation in private sector as risk
By Our Corporate Bureau | 28 Jan 2005
Mumbai: Infosys Technologies has listed the possibility of the Maharashtra government passing legislation on reservations in the private sector as a risk factor in its latest filings with the Securities and Exchange Commission (SEC) of the US.
"We currently have operations, including a development centre, in Pune in the state of Maharashtra, India. Recently, the Maharashtra state government introduced legislation requiring that certain employers in the state give preferential hiring treatment to various under-represented groups resident within the state. The quality of our workforce is critical to our business. If the legislation becomes effective, our ability to hire the most highly qualified technology professionals in the state of Maharashtra may be hindered," said Infosys in its filings for issue of American Depository Shares.
"Our success depends in large part upon our highly skilled technology professionals and our ability to attract and retain these professionals," it added.
