"Communication between important shareholders and the board has broken down and the board should be reconstituted and all concerns should be addressed," Mr Balakrishnan told NDTV. Earlier, the IT firm had denied any corporate governance lapses has had occurred at the company. According to NDTV, in January Murthy along with other co-founders Kris Gopalakrishnan and Nandan Nilekani had written to Infosys board raising concerns over huge salary and severance packages. The company last year gave chief executive Vishal Sikkka a handsome hike and raised his annual remuneration to $11 million that included performance -based variable pay.