TCS pays $29.75 million to settle class action suit in U.S

BANGALORE Fri Mar 1, 2013 1:18pm IST

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012. REUTERS/Vivek Prakash/Files

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

BANGALORE (Reuters) - Tata Consultancy Services Ltd.(TCS.NS), India's top software services provider, said it agreed to pay $29.75 million to settle a class-action law suit in the United States, brought by two former non-U.S.-citizen employees.

"The settlement is made without admitting any wrong doing by TCS," the company said in a statement to the National Stock Exchange in Mumbai on Friday. It is subject to court approvals.

The former employees had accused TCS in 2006 of forcing all non-U.S.-citizen workers to sign over their U.S. federal and state tax refund cheques to the company. Tata also deducted their Indian wages from their compensation, the suit alleged.

The case was granted class-action status in April 2012 by California federal judge Claudia Wilken. TCS had denied the allegations.

The case is Vedachalam vs Tata America International Corporation et al, U.S. District Court, Northern District of California (Oakland), No. 06-963.

(Reporting By Harichandan Arakali; Editing by Anupama Dwivedi)

FILED UNDER:

Banking

REUTERS SHOWCASE

OPEC Oil Talks

OPEC Oil Talks

Saudi, Russia pre-OPEC talks yield no oil output cut  Full Article 

SAARC Summit

SAARC Summit

China looms over SAARC summit in the Himalayas  Full Article 

Microsoft in China

Microsoft in China

Microsoft to pay China $140 million for 'tax evasion'   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage