Cognizant bank accounts frozen?

Several accounts of software exporters Congnizant Technology Solutions have been frozen in connection with a tax evasion notice, reports said. Some deposits of the company have also been frozen. 

The move followed tax evasion notices to a tune of Rs 2500 crore. The company reportedly evaded Dividend Distribution Tax, which is levied at 20 per cent.

Cognizant is one of the largest Indian software companies and is among the top rated companies in India. In a clarification issued, the company said it will comply with all legal requirements, the reports added.