Why is top investor Nalanda against L&T?

What is spurring Nalanda Capital founder and feted investment manager Pulak Chandan Prasad to fight a lonely battle with Larsen & Toubro?

Prasad, a former McKinsey and Warburg Pincus head, who made a big killing in the early days of private equity investing in India, is rallying some MindtreeNSE 0.02 % investors for a pyrrhic victory: Make L&T pay a better price for the midtier IT services company, after resisting the hostile takeover appears to be a lost cause.