India’s largest IT services provider, IT major Tata Consultancy Services has expressed that it has disposed a regularly litigation with Orange County, California. The TCS Company has paid $26 million to dispose the three-year long debate.
The debate was over a failed replacement to the county’s automated property tax system that initially was to be completed by 2010 but was not delivered.
“Tata Consultancy Services and Orange County have agreed to dispose a regularly debate about the joint development of a Property Tax Management System. Both parties had stated claims against each other, but neither admits any liability.
According to TCS spokesperson, “The disposal was reached after a mediation which is conducted by Magistrate Judge Jay C Gandhi, representing a compromise between the two parties, versus the prospect of a lengthy trial in Orange County”.
The settlement was reached after mediation was held late last month, the Board of Supervisors approved the settlement proposal of United States Magistrate Judge Jay C Gandhi.
In a press statement, the County Executive office of Orange County said that Tata also approved the mediator’s proposal, which resulted in a binding agreement.
The county received notification on Friday 19 August 2016 that the $26 million settlement payment from Tata had been wired to the County Treasurer-Tax Collector.
“In exchange for this payment, the County will now give up its lawsuit against Tata, which in turn will dismiss its cross complaint,” said the statement.