Mindtree panel ropes in Khaitan and Co, ICICI Securities as advisors
Updated : April 02, 2019 08:46 PM IST
Lead independent director Apurva Purohit, who is also Jagran Prakashan's President, in a statement said, "The Committee held its first meeting today and has appointed Khaitan and Co. as its independent legal counsel and ICICI Securities Limited as its independent financial advisors to provide assistance in the matter.
IT company Mindtree formed the panel of independent directors under Purohit to look into "unsolicited open offer" by L&T. The committee is expected to submit its recommendations by May 11.
Mindtree Executive Chairman Krishnakumar Natarajan in an interview to PTI had said the company board was evaluating "several options" to find way out of the L&T's hostile bid and made it clear the diversified group is yet to come up with any proposal to address the concerns.