April 3, 2018 / 6:46 PM / 8 months ago

BRIEF-Cognizant Says High Court In Chennai Granted A Stay Of Indian IT Department's Actions

April 3 (Reuters) - Cognizant Technology Solutions Corp :

* HIGH COURT IN CHENNAI GRANTED CO'S APPLICATION FOR A STAY OF THE ACTIONS OF INDIAN INCOME TAX DEPARTMENT

* HIGH COURT IN CHENNAI ALSO GRANTED CO'S APPLICATION FOR A LIFTING OF THE ITD'S ATTACHMENT OF CO'S BANK ACCOUNTS

* AS PART OF STAY ORDER, TO DEPOSIT $75 MILLION TO BE KEPT IN SUSPENSE ACCOUNT BY ITD, WITH REMAINDER MARKED UNDER LIEN

* COURT FURTHER GRANTED CO'S REQUEST TO ADDRESS ITD'S COLLECTION ACTIONS, SCHEDULED HEARING LATER IN APRIL Source text for Eikon: Further company coverage:

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