Mindtree board to meet on March 26

The Mindtree board, which deferred its meeting on Wednesday, will now meet on March 26 to discuss the buyback plan.

The board had put off its meeting scheduled for March 20 following differences of opinion among the members on whether the company should go ahead with the buyback or bring in a white knight to stall L&T’s takeover bid.

“Mindtree Ltd has informed BSE that the meeting of the board of directors of the company is scheduled on March 26. This is in furtherance to the letter regarding adjournment of the board meeting on March 20,” a statement from the company said.

L&T had earlier inked a deal with VG Siddhartha to buy his 20.32 per cent stake in the company for Rs. 3,269 crore. The transaction is expected to close in the first quarter of FY2020.