Page 6 - Satyam Scam
Mahindra Satyam begins building IT centre at Nagpur airport
Leading global consulting and IT services provider Mahindra Satyam today announced the commencement of construction of IT development centre at MIHAN SEZ at a formal ceremony here.
Bombay HC approves merger of Tech Mahindra & Mahindra Satyam
The long awaited merger of Tech Mahindra and Mahindra Satyam seems to be nearing.
Tech Mahindra, Mahindra Satyam up on Bombay HC nod for amalgamation
Shares of Tech Mahindra and Mahindra Satyam (formerly Satyam Computer Services) have rallied 3% each, and are trading at their respective 52-week highs, after the Bombay High Court approved the amalgamation of the four companies along with Satyam Computer Services Limited with Tech Mahindra.
MSat-TechM merger gets high court nod
The decision is subject to a requisite approval from the Andhra Pradesh High Court.
Satyam bounces back into Group-A category stocks
Mahindra Satyam, which in its pre-scam erstwhile form as Satyam Computer figured as one of the top blue-chip shares of the country, will once again become a Group-A stock on the BSE from the next week.
ED attaches Rs 822 cr worth assets of Satyam's Raju
Enforcement Directorate today issued attachment orders freezing fixed deposits worth Rs 822 crore of B Ramalinga Raju, founder of scam-hit Satyam Computers, and his family in connection with its probe in the money laundering case.
As more U.S. audit work moves to India, concerns arise
Auditing of U.S. corporations' financial books, a vital underpinning of investor confidence, increasingly relies on work carried out in India, where there is no clear system of oversight.
Satyam's Rs 822-cr fixed deposit attached by ED
The Enforcement Direc-torate (ED) on Thursday attached fixed deposits of Rs 822 crore of the erstwhile Satyam Computer Services, kept with four banks. The move relates to a case under the Prevention of Money Laundering Act (PMLA) against the company’s promoter, B Ramalinga Raju, and others.
Mahindra Satyam to challenge ED order
ED, on October 18 this year, had served a provisional attachment order on Mahindra Satyam, attaching the money on the grounds that it had been identified as ‘proceeds of crime’ committed by Satyam founder B Ramalinga Raju.
Notices to Mahindra Satyam on money laundering
On October 18, the Enforcement Directorate had attached SCSL's fixed deposits worth Rs 822 crore
Satyam shareholders file petition on swap ratio
Unhappy over the swap ratio for the merger between consulting and IT services company Mahindra Satyam (erstwhile Satyam Computer Services Limited) and its parent Tech Mahindra, some shareholders of Satyam on Tuesday filed a petition in the Andhra Pradesh High Court contending that “the swap ratio was not in tune with the legal process.
The truth shall prevail?
A large part of Zafar Anjum's book, The Resurgence of Satyam: The Global IT Giant, is dedicated to dissecting and reconstructing the modus operandi of the fraud
Mahindra Satyam settles Aberdeen Global claims in accounting fraud
Hyderabad-based consulting and IT services provider, Mahindra Satyam, today said that it has settled claims brought in the Commercial Court in London by Aberdeen Global and twenty-two other funds managed by Aberdeen Asset Management PLC and its subsidiaries that had claimed damages.
Investor protection to get a big boost
Though the Companies Act, 1956, provided for several provisions to protect the interests of shareholders, it did not keep pace with the changing business environment.
Bhupesh Bhandari: The frauds within
One of the arguments against opening up multi-brand retail to multinational corporations is that MNCs resort to corrupt practices without remorse. Walmart has become the face of that evil.
Satyam made us smarter auditors can't get cosy with management: MCA
The minister said there had been issues related to auditors that had led to various accounting frauds, including in the case of high-profile Satyam Computer scam.
A scam and a tape recorder
A senior government nominee director on the boards of Raju companies after the Satyam-Maytas scam in 2009 recalled how he suggested recording proceedings of board on tape
Ex-directors of Satyam win ruling in US class-action suit
A US federal judge dismissed claims against seven former directors of Satyam Computer Services Ltd in shareholder lawsuits stemming from the massive fraud at the heart of India's largest corporate scandal.
'Scams driving retail investors away from stock market'
While some of the experts believed it was the lack of awareness among investors, others cited government's indifference as one of the reasons for impact
Satyam-Tech M to rejig structure, to have 30-40 CEOs
By FY15-end, the company would have several CEOs heading various business units
