The statement from Mistry’s office also said that Ratan Tata had also once approached JRD Tata with a proposal from IBM to buyout TCS.
TCS, in its filing with the BSE, said an email from Mistry to the Tata Sons board was made public though it was marked ‘confidential.
As deals from Citigroup to BNP Paribas go up for rebid, companies from Infosys to IBM have said they expect cuts on their current contracts.
"EXL will continue to develop domain-specific solutions to solve these high priority challenges for our clients, while leveraging consulting.
MakeMyTrip said that the recent demonetisation of large notes had not yet affected its plan to collect parts of the payments in cash as it had just been a week.
In the current year, Gartner said IT spending will have contracted 1.6% to $67.7 billion. The research firm had expected India IT spending to touch $72.3 bn.
He, however, argued that Infosys has the capability to surmount hurdles in the way of the free movement of technology professionals.
TidalScale helps companies draw insights from big data faster, more easily and with greater flexibility at improved costs.
Infosys has cut its guidance two times in a row this year, a record that was only topped by Cognizant trimming its top-line expectations three times.
The source added that the ‘hasty actions appear to have been done at night’ given the stock exchange announcement at 8.00 am on Thursday.
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