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.
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.