New Delhi, Oct. 27 -- Tata Consultancy Services (TCS) has denied reports of losing a $1 billion contract from British giant Marks & Spencer, following cyberattack-related failures.

Calling the report, published by UK newspaper The Telegraph, 'misleading', the IT giant dismissed such news.

In an exchange filing on late Sunday, TCS issued a clarification over its Marks & Spencer deal.

"The report published by The Telegraph is misleading, with factual inaccuracies including the size of the contract and the continuity of TCS' work for Marks & Spencer (M&S)," it said.

It said that the report titled 'M&S ousts Indian outsourcer accused of £300m cyberattack failures' had factual inaccuracies.

It said that the contract in question went ...