A US court has found IT player Tata Consultancy Services (TCS) liable for misappropriation of trade secrets, imposing penal charges amounting to approximately USD 194 million.
The judgment, delivered by the United States District Court, Northern District of Texas, Dallas Division, stems from a case initiated by Computer Sciences Corporation (CSC), which has since merged with DXC Technology Company (DXC).
According to the court's ruling, TCS is required to pay CSC USD 56,151,583 in compensatory damages and USD 112,303,166 in exemplary damages. Additionally, TCS faces a liability of USD 25,773,576.60 in prejudgment interest calculated through 13 June 2024.
Beyond the financial penalties, the court has also imposed certain injunctions and other unspecified reliefs against TCS.
Despite the adverse ruling, TCS has stated in a regulatory filing that it possesses strong arguments against the judgment. The company is actively pursuing all necessary steps to protect its interests, including seeking a review or filing an appeal.
TCS has assured stakeholders that the judgment is not expected to have a significant negative impact on its financial condition or operations.
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