Indian multinational major Larsen and Tourbo has denied any kind of involvement in the graft scandal that has hit technology major Cognizant.
Cognizant, a longtime customer of L&T, had reached a settlement with the US Department of Justice and the US Securities and Exchange Commission (SEC) in which it has acknowledged violations of the US Foreign Corrupt Practices Act (FCPA) in connection with certain construction projects in India, the company informed BSE.
“This settlement appears to arise from an internal investigation by Cognizant that it first announced on September 30, 2016. While we cannot comment on Cognizant’s decision to enter into these settlements, we are not aware of any evidence that supports our involvement in making the alleged improper payments. We confirm that neither we nor any of our employees are a party to the proceedings brought in the United States,” the company said in the filing.