Infosys reaches $34 million settlement in U.S. visa case

Reuters

BANGALORE, Oct 30 (Reuters) - Infosys Ltd, India'ssecond-largest IT services exporter, has agreed to pay $34million in a civil settlement with U.S. authoritiesinvestigating its use of visas in the United States, the companysaid on Wednesday.

U.S. authorities have been investigating Infosys' use ofvisas since 2011.

"There were no criminal charges or court rulings against thecompany. Furthermore, there are no limitations on the company'seligibility for federal contracts or access to U.S. visaprograms as a result of the settlement," Bangalore-based Infosyssaid in a statement.

"As reflected in the settlement, Infosys denies and disputesany claims of systemic visa fraud, misuse of visas forcompetitive advantage, or immigration abuse. Those claims areuntrue and are assertions that remain unproven," it said.

Earlier this month, Infosys said it had set aside a reserveof $35 million as it worked towards a resolution for the U.S.government's investigation.

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