Meet the IIT graduate who received a salary of Rs 45 crore, was sacked from his position, and bought Narayana Murthy’s

Numerous brilliant individuals from IITs have gone on to head some of the largest corporations in the nation. A significant percentage of successful Indian businesses have historically been led by IIT alumni. One such IIT graduate, who at one point led a behemoth in the IT sector, bought the business where Narayana Murthy had worked before to founding Infosys, which is valued at Rs 647000 crore. The IIT graduate was paid around Rs 45 crore a year in pay before he was let go by the organization. The individual we are discussing is Phaneesh Murthy, an IIT graduate who now holds board positions in many organizations. Before he was sacked in 2013, Phaneesh Murthy, the former CEO of iGATE Corporation, received around Rs 45 crore in total salary in 2012.

Phaneesh Murthy was born in Bangalore into a middle-class family and graduated from IIT Madras with a B.Tech in mechanical engineering. He continued on to do PGDMgt at IIM, Ahmedabad, after graduating. In 1987, he began employment at Sonata Software after graduation. He transferred to Infosys, owned by Narayana Murthy, after working there for five years. He had a number of roles inside the company throughout the years before leaving after two women filed a complaint against him.

Phaneesh Murthy founded Quintant Services Limited and Primentor before joining iGATE Global Solutions Limited in August 2003 after Quintant’s acquisition. He is recognized for having restructured iGATE and assisting the business in paying $1.22 billion to buy Patni Computer Systems. For those who don’t know, Patni Computer Systems was twice as big as iGATE when it was bought, and Narayana Murthy previously worked there. With this transaction, iGATE became one of India’s biggest IT businesses. After a junior employee filed a complaint against him, Phaneesh Murthy was sacked from iGATE.