Construction major L&T, which is in the midst of a hostile takeover of Mindtree Ltd, has secured three board positions at the IT services firm, giving the former a firm control over the company where it is eyeing over 66 per cent stake.
Also, Mindtree co-founder Subroto Bagchi, who will retire next month, has not offered himself for re-appointment to the Board.
In a BSE filing on Thursday, Mindtree said L&T CEO and MD S N Subrahmanyan will join its Board as Non-Executive Director with effect from July 16 when Mindtree is scheduled to hold its annual general meeting (AGM).
