MUMBAI/BANGALORE: Narayanan Vaghul, former chairman of ICICI and an independent director with software major Wipro, is heading an internal probe into the recent embezzlement case at the firm, amid signs that India's third-largest software company is exploring options of an organisational reshuffle to fix accountability. People familiar with the development said the high-level internal probe has the backing of Wipro chairman Azim Premji, who has taken a serious note of the embezzlement which, although small in magnitude, has the potential to dent Wipro's reputation in India and overseas. The fraud at the NYSE-listed Wipro has already attracted attention, especially from overseas investors. The Wipro stock fell 0.6% to Rs 671 on Wednesday. The scrip has lost 4% in the past month since January 25. In comparison, the BSE's broader index, Sensex, was down 3.5% during the same period.