Media reports that some executives at Tata Consultancy Services Ltd. (TCS:NSI) took bribes from staffing firms represent a breach of the company’s code conduct but did not involve fraud by TCS or involve key managers, the IT service giant said in a statement. Media reports last week said some managers at TCS accepted bribes in exchange for placing candidates. The reports said TCS’s global head of resource management — the company’s recruitment division — had been involved.

“The recruitment activities in TCS are not handled by the Resource Management Group (RMG) as alleged, therefore the reference to alleged scam in recruitment process is incorrect,” according to the company’s statement. “RMG is responsible for allocation of available resources to various projects and in case of any shortfall, fill such requirements through contractors. The complaint referred to in the article relates to hiring of such contract resources employed by the contractors.”

TCS’s statement continued: “On receipt of the complaint, the company launched a review to examine the allegations in the complaint. Based on the review: (i) this does not involve any fraud by or against the company and no financial impact, (ii) the issue relates to breach of company’s code of conduct by certain employees and vendors providing contractors and (iii) no key managerial person of the company has been found to be involved.”

A new story published Monday by Mint said TCS named a new head to oversee hiring of temporary workers; fired at least 15 executives in the US, Canada and India; and blacklisted eight staffing firms. Names of the staffing firms were not available, Mint reported. The story, which cited anonymous sources, said TCS is also conducting an audit of staffing firms. An unnamed source claims “TCS has started auditing all contract staffing vendors working with the company. All their procurement and RMG teams across geographies have been asked to file reports of every hire over the last 2-3 years and mention which division and vendor have sourced them and at what price".

TCS has been contacted for further comment.