Date:18/01/2006 URL: http://www.thehindubusinessline.com/2006/01/18/stories/2006011802110400.htm

Back TCS in venture to develop portal for M.P.

Our Bureau

Mumbai , Jan. 17

TATA Consultancy Services has entered into a joint venture agreement with the Madhya Pradesh State Electronic Development Corporation Ltd.

TCS will own 89 per cent of the equity capital of the resulting joint venture company, it said in a notice to the stock exchanges today.

The board of directors of TCS on Tuesday approved an investment of up to Rs. 6.3 crore in the joint venture company by way of equity or debt, or a combination of both.

The joint venture company will take care of the development, maintenance and management of a portal for providing e-governance services to the citizens of Madhya Pradesh.

The Madhya Pradesh State Electronics Development Corporation is a wholly owned corporation of the State Government.