CMC, a subsidiary of Tata Consultancy Services (TCS), has won a legal case against Kuwait Stock Exchange (KSE). KSE had terminated the contract with CMC in September 2006, against which CMC filed a legal case in the courts of Kuwait.
The Cassation Court of Kuwait, which is the highest judicial authority in Kuwait, delivered the judgment in favor of CMC and has ordered KSE to pay CMC a sum of KD 2.17 million which is equivalent to approximately Rs 46.37 crore at current exchange rate along with interest of 7% per annum from the original date of order from the lower Court.
CMC is leading system engineering and Integration Company in India and is a subsidiary of Tata Consultancy Services, Asia’s largest software company. Operating out of 18 offices and 180 services locations in the country, CMC employs over 10,000 people and has a wholly owned subsidiary in USA called CMC Americas, Inc.
Company Name | CMP |
---|---|
Netweb Technologies | 1669.00 |
DC Infotech and Comm | 229.55 |
Ducon Infra. | 7.35 |
Control Print | 932.65 |
NELCO | 766.15 |
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