On Monday, Tata consultancy services announced that the exemplary damages imposed on the firm in the America-based software company, EPIC system corporation lawsuit in the United States have been reduced to $140 million.
The Indian Multinational IT corporation said in the stock exchange listing on July 4 that the district tribunal based in the western region of Wisconsin in the United States ruled a judgment lowering the tribunal endowment of exemplary damages to $140 million and commanded the bookkeeper of the bench to register a revised ruling appropriately.
An exchange confidential case had been registered against the Indian Multinational IT corporation and Tata America International Corporation by Epic system long ago in 2014. The Epic system made allegations that the corporation plundered its highbrow ability to design a commodity under Tata Group.
The America-based firm claimed that Tata group companies, which was appointed by them to carry out health management computer program instead of being a professional advisor looted around 6,000 databases using a forged account masquerading itself as an employee of Epic system.
A panel of judges found the Tata Group companies at fault in the year 2016 and charged a penalty worth $940 million on it which TCS had to pay to Epic system. However, this charge was reduced to $420 million in 2017 by the district court of Wisconsin. Out of the $420 million, $280 million was to be given to Epic system for exemplary damages while $140 million as compensation.
The Tata Group companies called upon the judgment in the Court of Appeals of United located in Chicago which ruled that the exemplary damages levied on the company are very high and the tribunal should reconsider it. After which the district tribunal of Wisconsin, United States ruled a judgment lowering the exemplary damages to $140 million.
In its stock exchange listing the Tata Group companies said that the corporation has been encouraged by the law and that it has powerful assertions in its benefit in front of the Appel court in Chicago and the ruling on the exemplary damages is not backed by the verifiable truth handed out by Tata Group companies before the bench.
It further said that it has commended that the ruling and the decision taken by the court can be called upon to the Court of Appeals of the United States located in Chicago.
The Indian Multinational IT firm asserted that did not do any wrong application or acquire any advantage from the database of Epic system and the company will put the facts in favor of this statement before the Court of Appeals.