<p>India's premier IT firm Tata Consultancy Services (TCS) has denied the&nbsp;accusations of ‘fraud’ in its recruitment process. TCS refuted the accusations while responding to a number of media reports&nbsp;of a ‘bribes-for-jobs scandal’ that rocked the IT major last week.</p>

<p>"We probed the allegations made in the complaint and found out that the charges do not involve any fraud by or against the company, and financial impact. The reference to the alleged scam is incorrect," TCS said in a statement.</p>

<h2><strong>What is the 'bribes-for-jobs' scandal?</strong></h2>

<p>The 'complaint' was sent to TCS Chief Executive Officer (CEO) K Krithivasan, and Chief Operating Officer (COO) N Ganapathy Subramaniam, by a whistleblower, who alleged that ES Chakravarthy, the global head of its resource management group (RMG) 'accepted commissions from staffing firms for years.'</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/business-economy/tcs-in-turmoil-bribery-scandal-rocks-indias-it-giant-607733">TCS in turmoil: Bribery scandal rocks India's IT giant</a></strong></p>

<p>Following a whistleblower complaint accessed&nbsp;by Livemint, an internal committee comprising three members, including chief information security officer Ajit Menon, was formed to investigate the allegations.</p>

<p>The investigation concluded with TCS placing its head of recruitment on leave, terminating four officials from the RMG division, and imposing a ban on three staffing firms.</p>

<p>The RMG, the follow-up statement noted, 'is entrusted with allocating resources to various projects, and fill shortfalls through contractors.'</p>

<p><strong>Also watch |&nbsp;TCS bags 10-year contract for teacher’s pension in UK | World Business Watch</strong></p>

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<p>"None of our key managerial positions has been involved in any irregularities. The issue relates to the breach of Code of Conduct by certain employees, and by vendors providing contractors," it further stated.</p>

<p>Those involved in the ‘scam’ made at least ₹100 crore via commissions, the Livemint report added.</p>

<p>The revelation of this recruitment scandal at TCS, a company with $27.93 billion in revenue and over 614,795 employees, has rocked India's IT sector in the last week, raising many questions about the presence of adequate safeguards and how such a situation could have transpired.</p>

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India's premier IT firm Tata Consultancy Services (TCS) has denied the accusations of ‘fraud’ in its recruitment process. TCS refuted the accusations while responding to a number of media reports of a ‘bribes-for-jobs scandal’ that rocked the IT major last week.

India's premier IT firm Tata Consultancy Services (TCS) has denied the accusations of ‘fraud’ in its recruitment process. TCS refuted the accusations while responding to a number of media reports of a ‘bribes-for-jobs scandal’ that rocked the IT major last week. "We probed the allegations made in the complaint and found out that the charges do not involve any fraud by or against the company, and financial impact. The reference to the alleged scam is incorrect," TCS said in a statement. What is the 'bribes-for-jobs' scandal? The 'complaint' was sent to TCS Chief Executive Officer (CEO) K Krithivasan, and Chief Operating Officer (COO) N Ganapathy Subramaniam, by a whistleblower, who alleged that ES Chakravarthy, the global head of its resource management group (RMG) 'accepted commissions from staffing firms for years.' Also read | TCS in turmoil: Bribery scandal rocks India's IT giant Following a whistleblower complaint accessed by Livemint, an internal committee comprising three members, including chief information security officer Ajit Menon, was formed to investigate the allegations. The investigation concluded with TCS placing its head of recruitment on leave, terminating four officials from the RMG division, and imposing a ban on three staffing firms. The RMG, the follow-up statement noted, 'is entrusted with allocating resources to various projects, and fill shortfalls through contractors.' Also watch | TCS bags 10-year contract for teacher’s pension in UK | World Business Watch × "None of our key managerial positions has been involved in any irregularities. The issue relates to the breach of Code of Conduct by certain employees, and by vendors providing contractors," it further stated. Those involved in the ‘scam’ made at least ₹100 crore via commissions, the Livemint report added. The revelation of this recruitment scandal at TCS, a company with $27.93 billion in revenue and over 614,795 employees, has rocked India's IT sector in the last week, raising many questions about the presence of adequate safeguards and how such a situation could have transpired. WATCH WION LIVE HERE

TCS denies 'bribes-for-jobs' scandal after turmoil

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TCS denies 'bribes-for-jobs' scandal after turmoil