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Tech Mahindra Ltd Announces Board Changes

Monday, 5 Nov 2012 05:36am EST 

Tech Mahindra Ltd announced that the that the Board of Directors of the Company at its meeting held on November 05, 2012, inter alia, has taken the following decision : The Board noted that British Telecommunications Plc. (BT) had sold a substantial portion of its shares in the Company as a result of which BT's shareholding in the Company had fallen below 10%. The Board noted that in terms of the Shareholders Agreement (SHA) between Mahindra & Mahindra Ltd. (M & M) & BT to which the Company was also a party has ceased to be operative. Consequently, Mr. Anand Mahindra & Mr. Bharat Doshi who were nominated by M&M on the Board of the Company will vacate their office of director. In view of this the Board appointed Mr. Anand Mahindra & Mr. Bharat Doshi as additional directors & Mr. Anand Mahindra was elected as the Chairman of the Company. 

Company Quote

4.05 +0.17%
22 Oct 2014