TCS Sees No Impact After Supreme Court Stays NCLAT Ruling To Reinstate Cyrus Mistry
The company is not worried about the legal battles.
India’s largest software exporter Tata Consultancy Services Ltd. on Friday said it does not see any impact of the National Company Law Appellate Tribunal ruling removing N Chandrasekaran as its chairman.
The Supreme Court has given a "blanket stay" on the NCLAT order, the company's Managing Director and Chief Executive Officer Rajesh Gopinathan said.
"Absolutely not and as your are aware the matter has been referred to the Supreme Court. The company has also appealed, and the Supreme Court has granted a blanket stay and we don't see any impact to the company from that," he said when asked about the impact of the NCLAT order removing Chandrasekaran.
He reiterated again that the company is not worried about the legal battles.
It can be noted that the company, which is usually among the first ones to report its numbers, had to delay its board meeting to consider the December quarter performance till it got the Supreme Court’s relief on the NCLAT order last week.
The NCLAT had last month ruled that the meeting in which Cyrus Mistry was removed as the chairman of Tata Sons, the diversified group's holding company, was illegal and ordered his reinstatement.
Chandrasekaran had succeeded Mistry as the chairman of Tata Sons after one of the biggest corporate battles.