TCS provisions $165 million for Epic claim, continues legal battle

TCS provisions $165 million for Epic claim, continues legal battle
Following an order by an US court to pay $140 million, TCS has made a provisioning of $165 million towards the claims while continuing the legal battle
Rukmini Rao | April 12, 2021 | Updated 22:27 IST
Following the order by the US Court of Appeals, 7th Circuit, Chicago, last August, upholding an award against Tata Consultancy Services (TCS) asking to pay $140 million, the company has provisioned $165 million towards the legal claim.
TCS, in the financial statements for the quarter and year ended March 31, 2021, said, "Pursuant to ruling at the Appeals Court on August 20, 2020, in the case relating to Epic Systems Corporation (referred to as Epic) for alleged unauthorised access to and download of Epic's confidential information and use thereof in the development of the company's product MedMantra, the Company had provided Rs 1,218 crore ($165 million) towards this legal claim in its consolidated statement of profit and loss for the year ended March 31, 2021."

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