Women in leadership roles often have to spend a lot of time proving themselves. Equality at workplace is still a fair distance away

Private equity giant Blackstone Group has emerged as one of the top contenders to buy the Global Village Park, owned by Tanglin Developments Ltd (a unit of CDEL).

Debashis Chatterjee, appointed as the Mindtree CEO for a period of five years, is the first individual outside the 7-member founding team to hold the office

VG Siddhartha death: The last rites of VG Siddhartha will be carried out at his father's estate in Belur taluka, Karnataka

Last month, Mindtree board had approved induction of five L&T's nominees as directors into the company's board, including L&T's Chief Executive Officer (CEO) and Managing Director S N Subrahmanyan and its Chief Financial Officer (CFO) Ramamurthi Shankar Raman

While Wipro will see an end of an era as Azim Premji will retire as its chairman, Mindtree, recently taken over by L&T, stares at a rather stormy session

Executive chairman Krishnakumar Natarajan, executive vice chairman & chief operating officer (COO) N S Parthasarathy, and managing director & chief executive officer Rostow Ravanan submitted their resignations as board members as well as employees of the company

According to data available with Bombay Stock Exchange, L&T was holding 9,87,79,179 equity shares in Mindtree as of July 2, 2019

Even though the promoters of Mindtree once vehemently opposed the takeover by L&T, the appointment of new additional directors from L&T on Mindtree's board has come through a board resolution

Mindtree had earlier constituted a four-member independent directors committee, under the chairmanship of Apurva Purohit, to evaluate the open offer made by L&T to acquire 31 per cent of shares in the company

The engineering behemoth missed its May 7 deadline to issue its letter of offer to Mindtree shareholders, reportedly due to late queries posed by the markets regulator to which it could only respond on May 10. The open offer is still awaiting SEBI's green light.

L&T has made a public announcement for the acquisition of 31 per cent shares of Mindtree from the market, with Axis Capital and Citi Global managing the open offer

Earlier this month, Larsen and Toubro had purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through a block deal for about Rs 3,210 crore

L&T bought over 11.52 lakh shares, or 0.75 per cent, worth Rs 112.91 crore with the average price being Rs 979.94 per scrip, as per bulk deal data available with the National Stock Exchange

On Tuesday, L&T acquired around 3.27 crore Mindtree shares, or almost 20 per cent of the stake, at Rs 980 per share (for a total of Rs 3,211 crore) from Siddhartha and Coffee Day Enterprises through block deals

Share Market Updates: On the sectoralfront, Oil & Gas, Energy and Realty indices were among the major losers.  However, IT sector continued to outperformafter rupee slips against US dollar.

Prabhudas Lilladher in its report stated that although Mindtree posted strong revenue growth, the management has guided a low teens revenue guidance for the fiscal year 2020