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L&T looking to induct its representative into the Mindtree board via EGM, says report
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L&T looking to induct its representative into the Mindtree board via EGM, says report
May 3, 2019 1:31 AM

L&T and Mindtree may be heading towards another round of showdown as the engineering conglomerate, the largest stakeholder in the IT firm, is mulling a shareholders' meeting, reported Business Standard.

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The agenda for the extraordinary general meeting (EGM) is likely to be “governance and inclusion,” the report said citing sources close to the development.

As per the report, L&T will look to induct its representative into Mindtree board through the meeting.

“As the single-largest shareholder, L&T can request the board to have an EGM. But it has to convince the board that such a meet is essential on valid grounds, failing which it may reject the proposal,” a person familiar with the development was quoted as saying in the report.

The development comes after L&T bought 20 percent stake in the Mindtree from Coffee Day founder VG Siddhartha on Tuesday.

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