Satyam Computer Services News

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Tech Mahindra Ltd. Wednesday said its third quarter net profit rose 7.4%, aided by a surge in gains from associate Satyam Computer Services Ltd., even as a weak British pound and flat business volume weighed on the company.

Hyderabad: Mahindra Satyam on Friday said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company.

India's software outsourcer Mahindra Satyam on Wednesday posted a near five-fold jump in its third quarter net profit, beating market forecasts, as margins were boosted by a fall in the rupee.

Davos: Following an effective turnaround of the fraud-hit Satyam Computer into a successful business venture, Mahindra Satyam believes it is high time for the the former auditors, management and owners to pay up for their past misdeeds at the company.

Davos: Mahindra group's two technology ventures, Tech Mahindra and Mahindra Satyam, would be merged by the end of this year, a senior group official said here.

Hyderabad: The damages claim, filed by Mahindra Satyam against its former board of directors, certain employees and audit firm Price Waterhouse may not be taken up by a local court immediately as it has demanded the court fee in cash, whereas the company prefers to pay it in draft or cheque.

New Delhi: Sebi on Monday moved the Supreme Court seeking stay on the sectoral tribunal's order that allowed audit firm Price Waterhouse to cross-examine the accused in the Rs 7,000-crore Satyam Computer Services scam, including Satyam founder B Ramalinga Raju.

After suing the former management team, promoter and auditors of the erstwhile Satyam Computers and seeking damages for perpetrating fraud, Mahindra Satyam now wants to reward the government-appointed nominee directors for the commendable work done by them.