L&T to get 3 seats on Mindtree Board; Subroto Bagchi to step down

New Delhi: Construction major L&T, which is in the midst of a hostile takeover of Mindtree Ltd, has secured three board positions at the IT services firm, giving the former a firm control over the company where it is eyeing over 66 per cent stake.

Also, Mindtree co-founder Subroto Bagchi, who will retire next month, has not offered himself for re-appointment to the Board.