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TCS debunks Mistry’s claims

TCS debunked claims made by Cyrus Mistry’s office that the company had a ‘near death experience’ at the hands of Ratan Tata.

PTI | Mumbai |

Industrial conglomerate Tata Sons’ IT bellwether Tata
Consultancy Services (TCS) on Wednesday debunked claims made by Cyrus
Mistry’s office that the company had a ‘near death experience’ at the hands of
Ratan Tata.

In a rebuttal, TCS issued a statement on behalf of FC Kohli, former Chief Executive and Deputy Chairman of TCS.

“Cyrus Mistry’s comments regarding the sale of TCS to
IBM at some ‘unspecified point in time’ are not correct,” Kohli was quoted
in the statement.

“I was actively involved in the decision to bring IBM
to India. A JV (joint venture) for hardware manufacturing and support in India,
Tata IBM, was set up in 1991-92. This JV was undertaken to promote a computer
hardware industry in India which was non-existent at that time.”

“I would like to reiterate that at no point at that
time was there ever an intention of the Tata Group to sell TCS to IBM.”

The rebuttal came a day after Mistry’s office alleged that
TCS had a ‘near death experience’ at the hands of Ratan Tata.

“When one talks about vision and near death
experiences, it is worth recounting a little known fact. Midway during the TCS
journey to date, F.C. Kohli was suffering from a cardiac condition. Ratan Tata
was then heading Tata Industries’ joint venture with IBM and approached JRD
Tata with a proposal from IBM to buyout TCS,” Mistry’s office had alleged
in a statement on Tuesday.

“JRD Tata refused to discuss the deal because F.C.
Kohli was still recovering in the hospital from his setback. On his return,
Kohli assured JRD that TCS had a bright future and the group should not sell
the company. 

“JRD Tata turned down the offer, demonstrating true
vision. But, it was also a near-death experience for TCS at the hands of Ratan
Tata,” the statement from Mistry’s office claimed.