The United States-based IT giant Cognizant is planning to appoint K Ramaseshan as Chief Financial Officer for India operations. Ramaseshan is a senior finance executive with more 25 years of experience in the IT industry.
He is a Chartered Accountant and a Cost Accountant. He began his career in 1993 as Finance Officer at TVS Motor Company in Chennai. He was associated with several brands such as Wipro and IBM over the years, handing senior financial management. From 2013 to 2017, he was CFO of Tata Elxsi and is currently serving as CFO and Executive Director at SQS India BFSI, a business assurance and testing specialist focusing on the financial sector.
Cognizant’s decision is in the wake of the recent step taken by Indian Income Tax Authorities. The department in March had frozen the bank accounts and deposits of the tech giant, for evading of dividend distribution tax.
The company’s accounts were later unblocked by the High Court, which demanded a clearance of 15 percent of the disputed tax. Allegedly, Cognizant had evaded tax of Rs. 2,500 crore relating to a shares buyback transaction in 2016.