Soota communicated to employees that his resignation was not about difference of opinion on business issues. "We had too few (difference of opinions). There should be amongst leaders, more passionate argument on points of view as we had in our early days," he said. "It would be ridiculous to assume that business reasons would have led me to resign ... MindTree has been my life for the last 12 years," he said.

Ashok Soota is one of 10 cofounders of MindTree and holds 11.1% stake in the company. On January 28, Soota announced his decision to step down as executive chairman of the board citing personal reasons. MindTree is set to announce a new chairman of the board on April 1.