As the corporate battle between Mindtree and L&T intensifies, the IT major said that the hostile takeover by L&T would destroy value for the shareholders, and undo all the progress made by the company so far. \u201cThis is corporate India\u2019s metoo moment,\u201d Mindtree promoter Krishnakumar Natarajan said in a press conference. Mindtree also posed 5 stinging questions to the infra giant: Do you want to be remembered as the first company to mount a hostile takeover in Indian IT industry? Why can't you build its own independent IT company? \u201cL&T is 18 times the size of Mindtree. Why can\u2019t you build an IT organisation of your own,\u201d questioned Krishnakumar. Why do you wish to destroy value as clients migrate in this hostile takeover battle? What will you be left with is great minds at Mindtree leave? \u201cThis is people\u2019s business, what will you be left with if employees leave,\u201d asked Krishnakumar. What message are you giving to honest startups in the country? Also read:\u00a0My bulldozers and cranes build the nation: L&T CEO\u2019s retort to Mindtree promoter\u2019s \u2018tree\u2019 jibe Mindtree is also mulling a share buyback program in a bid to block L&T efforts of a hostile takeover.According to a Bloomberg report, Mindtree has cash of Rs 162 crore and investments worth Rs 811 crore, as of December 2018. Earlier, today L&T CEO Subrahmanyan said that the firm is approaching this deal in good faith, with \u2018Dil\u2019 and \u2018Pyaar\u2019, responding to queries over the nature of the first ever hostile takeover in Indian IT sector. \u201cThere are emotions involved, but business is business. What we are trying to do, is with, if I can use the word \u2018pyaar\u2019 and we will continue to look at it as something we are doing from our \u2018dil\u2019. And we will continue to look at it with the same manner and purpose,\u201d he said at a press conference this morning.\u00a0L&T shares closed 1.6% lower at Rs 1,356.75, while Mindtree shares closed 2% lower at Rs 943 owing to the hostile takeover buzz.