HYDERABAD: The controversy over the claim of the former Satyam chairman, B. Ramalinga Raju, that he had infused Rs. 1,425 crore into the company took a new turn on Wednesday as the Central Bureau of Investigation charged the firm with investing Rs. 175 crore from out of the money to acquire preferential shares of Nipuna [...]
Tech Mahindra has won the bid for Satyam Computer Services.
Reports say that the tech firm will pay Rs 1,757 crore to buy out 31 per cent Satyam stake.
Details awaited.
The majority stake sale process in Satyam Computer Services opened on Monday, and software firm Tech Mahindra submitted its bid. Engineering major L&T had also put in [...]
The board is expected to complete the process and announce the name of the successful bidder the same day in Mumbai.
The Satyam board has extended the deadline to submit technical and financial bids to April 13 from April 9 with the bidders seeking more information on the company, according to board member and HDFC chairman [...]
MUMBAI: In a significant development, former Satyam Computer CFO
Vadlamani Srinivas has told representatives of the Institute of Chartered Accountants of India (ICAI) — the apex regulatory body for chartered accountants in India — that auditors S Gopalakrishnan and Talluri Srinivas of audit firm Price Waterhouse had no role to play in the fraud, as they [...]
The Central Bureau of Investigation, probing the Satyam financial fraud, arrested three employees including a top executive of the IT firm on Sunday, said CBI deputy inspector general V V Lakshmi Narayana.
“We arrested three employees last night who designed the mechanism for the fraud and they were involved in preparing fake monthly bank statements and [...]
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