Mumbai, Nov 23 (IANS) Industrial conglomerate Tata Sons' IT bellwether Tata Consultancy Services (TCS) on Wednesday debunked claims made by Cryus 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 F.C. 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.
