Chennai ITAT rules Cognizant’s Rs. 19,000 Crore buyback through scheme of arrangement to attract DDT
DuringAY2017-18,M/sCognizantTechnologySolutionsIndiaPvt.Ltd.1purchaseditsownequityshares(representing54.70%ofitspaid-upcapital)fromitsshareholdersthroughaSchemeofArrangementu/s391to393oftheCompaniesAct,1956whichwasdulyapprovedbytheHon’bleHighCourtofMadras.