Madras HC directs Cognizant, shareholders to approach Dispute Resolution Panel over 2017 Tax Dispute

Meera Emmanuel June 28 2019

The Madras High Court on Tuesday dismissed writ petitions filed by Cognizant Technology Solutions India Private Limited (Cognizant) and two of its foreign shareholders - Cognizant (Mauritius) Limited and New Jersey-based Cognizant Technology Solutions Corporation - over tax disputes relating to the buy-back of shares.

Justice K Kalyanasundaram dismissed the petitions on grounds of maintainability, while observing that,

"...the Hon'ble Apex Court and the High Courts have consistently held that . . .

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