Bhubaneswar, March 18 (LocalWire): Chairman of Odisha Skill Development Authority (OSDA) Subroto Bagchi has announced his resignation from the post.
Bagchi made the announcement in a twitter message on Sunday night, after meeting Chief Minister Naveen Patnaik at the Naveen Nivas here.
“An imminent threat of a hostile takeover of Mindtree has made me resign from the government to be able to go, save the company.
“I must protect the Tree from people who have arrived with bulldozers & saw chains to cut it down so that in its place, they can build a shopping mall,” Bagchi, a Mindtree co-founder, wrote.
“Mindtree has not been designed as an ‘asset’ to be bought & sold. It is a national resource. It has a unique culture that humanizes the idea of business.
“It sets the standards of corporate governance. I need to be there in its time of difficulty. Hence the hard decision to return,” Bagchi said.
He said he would do everything in his capacity to fend off a “hostile takeover” attempt by L&T.
Bagchi had taken charge of OSDA on May 1, 2016.
He is credited for prompt implementation of skill development programs.