Infosys Ltd, India's second-largest IT services exporter, has agreed to pay $34 million in a civil settlement with US authorities investigating its use of visas in the United States, the company said on Wednesday. US authorities have been investigating Infosys' use of visas since 2011.
"There were no criminal charges or court rulings against the company. Furthermore, there are no limitations on the company's eligibility for federal contracts or access to US visa programs as a result of the settlement," Bangalore-based Infosys said in a statement.
"As reflected in the settlement, Infosys denies and disputes any claims of systemic visa fraud, misuse of visas for competitive advantage, or immigration abuse. Those claims are untrue and are assertions that remain unproven," it said.
Earlier in October, Infosys said it had set aside a reserve of $35 million as it worked towards a resolution for the US government's investigation.