New Delhi (CNN Business) Allegations of misconduct at one of India's largest tech companies have sent its stock plunging.

Infosys INFY in Mumbai on Tuesday after the company shares dropped more than 16%in Mumbai on Tuesday after the company said it was investigating two whistleblower complaints detailing alleged unethical practices.

A member of Infosys' board received the complaints on September 30, chairman Nandan Nilekani said in a statement . The first complaint contains allegations of "disturbing unethical practices" while the second "largely deals with allegations relating to the CEO's international travel," he said. The company first disclosed the complaints on Monday.

The company is also aware of a letter written to US authorities under a whistleblower protection program, which refers to emails and voice recordings supporting the allegations, Nilekani said.

"Although we have not been provided any of the emails or voice recordings, we will ensure that the generalized allegations are investigated to the fullest extent," he added.

Read More