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IT bellwether Tata Consultancy Services (TCS) will announce its third quarter results today, a move that comes after the Supreme Court stayed an earlier appellate tribunal that reinstated Cyrus Mistry as Tata group executive chairman.
TCS board had earlier decided to take on record third-quarter earnings only after “clarity emerges” on the status of Mistry’s directorship with the company.
READ:TCS Board meet to take on record Q3 earnings only after SC hearing
TCS has been kick-starting the earnings season for over past two years, but this time Infosys became the first to announce its Q3, last week.
The National Company Law Appellate Tribunal (NCLAT), in its December 8, 2019, order had also asked Tata Group to reinstate Mistry as director of certain firms with immediate effect. ALSO READ:
In a media statement issued on January 6, Mistry said the fight was not a quest for position or power but to protect minority shareholders’ rights. He also stated he will not pursue directorship of TCS, Tata Teleservices Ltd and Tata Industries.
READ: Cyrus Mistry not to return as Tata Sons chief, says ‘fight was never about me’
However, he will seek a seat on the Tata Sons board, which the Shapoorji Pallonji Group (SP Group) had held for nearly 30 years.
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