HYDERABAD/BANGALORE: Satyam Computer Services, which is in search of a new owner, has around 46,600 employees on its rolls now. Nearly 6,400 Satyam employees employees quit the IT firm after September last year, when the company claimed a headcount of 53,000.
Satyam’s suitors have been given information on the validated headcount during the due diligence of [...]
The United Nations plans to terminate its outsourcing contracts with scandal-plagued Satyam and will bar the outsourcer from bidding on future work, according to a report published Tuesday.
“Throughout the system, the various bodies of the U.N. will wrap up the contracts. The details of that may need some fine-tuning, it may need to be worked [...]
The Institute of Chartered Accountants of India, ICAI, said Wednesday it has sent notices to four Price Waterhouse auditors who had audited the accounts of Satyam Computer Services Ltd.
“PwC (Price Waterhouse) has sent us four names of people who were involved in the Satyam audit. We have issued notices to these four people along with [...]
Satyam Computer Services Ltd. will today close registration for interested bidders, kicking off the sale of the software provider at the center of India’s biggest corporate fraud.
Companies have until 5 p.m. local time to register their interest in acquiring 51 percent of the company, and submit a detailed bid by March 20, Satyam said. Hyderabad, [...]
MUMBAI (Reuters) - U.S. lawsuits filed against fraud-hit Satyam Computer Services (SATY.BO) could cause a liability of between $440 million and $840 million, the Times of India said on Thursday, quoting a potential bidder for the outsourcer.
“We have received a report from our legal advisers Gibson, Dunn & Crutcher LLP and they said the liabilities [...]
IBM has begun talks with Satyam’s government-nominated board and has brought in a team of lawyers and investment bankers.
International Business Machines Corp. (IBM) is keen on acquiring the scam-tainted Indian IT services firm Satyam Computer Services Ltd., according to a financial newspaper. IBM is understood to be the front-runner to acquire Satytam, the business daily adds.
IBM has [...]
The bid-pack for potential investors is ready and the government-appointed board has already sent it to the Company Law Board (CLB) and Securities Exchange Board of India (Sebi), according to sources close to the development.
The bid-pack, said sources, comprises details of Satyam’s geographical revenue break-up, the revenue of the top five or 10 clients ( [...]
New Delhi: India’s federal investigating agency will conduct an “all-encompassing” probe into the Rs7,136 crore fraud at Satyam Computer Services Ltd, using a vast multi disciplinary team, said its top official.
The findings of the Central Bureau of Investigation, or CBI, will likely also be used by litigants based in the US who have filed class [...]
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