When FC Kohli, the founding chief executive of Tata Consultancy Services (TCS) suffered his first cardiac attack, Ratan Tata proposed to JRD Tata that they should sell the company to IBM, reveals the statement released by the office of Cyrus P Mistry.
“When one talks about vision and near death experiences, it is worth recounting a little known fact. Midway during the TCS journey to date, Mr FC Kohli was suffering from a cardiac condition. Mr Ratan Tata was then heading Tata Industries’ joint venture with IBM and approached Mr JRD Tata with a proposal from IBM to buyout TCS. Mr JRD Tata refused to discuss the deal because Mr FC Kohli was still recovering in the hospital from his setback. On his return, Mr Kohli assured JRD that TCS had a bright future and the group should not sell the company. JRD Tata turned down the offer, demonstrating true vision. But, it was also a near death experience for TCS at the hands of Mr Ratan Tata,” the statement says.-from MoneyLife