Below my dignity to respond to baseless insinuations: Narayana Murthy on Infosys accusations

Infosys founder Narayana Murthy, who is being blamed by the companyfor the sudden resignation of its CEOVishal Sikka, said he was "anguished" by the allegations made by the Infosys board and would reply to them "in a right manner, right forum and at an appropriate time."

Murthy, who has previouslyquestioned the high compensation paid to Sikka and theseverance package of some of the former top executives, said "the deteriorating standard of corporate governance" was the reason for the concerns raised by him.

"Anguished by the allegations, tone and tenor of statements made by the Infosys board, below my dignity to respond to baseless insinuations," NR Narayana Murthy said.

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"Will reply to allegations in right manner, right forum and at an appropriate time," he added.

Infosys has blamed a recent letter by Narayan Murthy allegedly for Vishal Sikka's exit. In a statement, the IT major said the Infosys founder had attacked the integrity of the Board in the letter.

"Murthy's continuous assault, including his latest letter, is the primary reason for the resignation of Sikka despite strong Board support," the IT major said in a statement here hours after it accepted Sikka's resignation.

"Murthy's letter contains factual inaccuracies, already disproved rumours, and statements extracted out of context from his conversations with Board members," Infosys said.

In an interview, Murthy had also suggested that IT companies couldprotect the jobs of youngsters if senior executives take pay cuts.