The Supreme Court has given a "blanket stay" on the NCLAT order, the company's Chief Executive and Managing Director Rajesh Gopinathan said.
India’s largest software exporter Tata Consultancy Services (TCS) 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 Chief Executive and Managing Director Rajesh Gopinathan said. “Absolutely not and as your are aware the matter has been referred to the SC. The company has also appealed, and the SC 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 SC’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.