Wednesday , July 17 2024

US court imposes Rs 1,621 crore fine on TCS | Live Updates, Unveiling the Latest India News Trends

India's largest information technology (IT) services exporter Tata Consultancy Services (TCS) has been fined $194 million (about Rs 1,621 crore) by a US court.

The United States District Court for the Northern District of Texas has imposed this fine on TCS for misappropriation of trade secrets.

Regarding this decision, TCS has said that their party is strongly against this decision. A plan has been made to challenge this order. The company hopes that the decision will come in its favor after the review petition. Along with this, TCS has said that this decision will not have any significant impact on its financial performance. The case is related to Computer Science Corporation, which has now merged with DXC Technology. CSC accused TCS of misusing trade secrets. The $194 million fine imposed on TCS includes compensatory damages of $56.15 million, exemplary damages of $11.23 million and pre-judgment interest of $25.77 million.