Indian EPC giant L&T’s technology unit has agreed to pay $9.93 million to the US Justice Department to settle charges related to work visa violation between the years 2014 and 2019.
The US Justice Department in a statement on Monday said that the IT services company acquired less expensive B1 work visas than costlier and limited H-1B visas between 2014 and 2019. L&T Technology Services (LTTS) allegedly acquired B-1 visas in place of H-1B visas in violation of the False Claims Act.
In a statement the company said: “We have been cooperating with the Government on this matter for over three years and are pleased to have reached a resolution. Adherence to the laws of the land and visa compliance are a priority for LTTS, and we have devoted significant resources and time to update and enhance our internal controls, processes, and policies to ensure they continually conform with the complex and evolving regulations.”
The company also stated that this has no impact on its financials due to the settlement. “As per accounting principles, we have provided for this amount over the past quarters and therefore the quarterly and annual financials, which will be released later this month, will not be impacted,” it said.