SATYAM COMPUTERS

  • Date of verdict in Satyam case to be announced on July 28 June 26, 2014

    Hyderabad: A special court will announce on July 28 the date of verdict in the case relating to multicrore accounting fraud in erstwhile Satyam Computer Services Limited. The special court, which was to pronounce the date on Thursday, deferred it by over a month. Special Judge B.V.L.N. Chakravarthi of 21st additional chief...
  • Satyam case: Ramalinga Raju appears in court on money-laundering charges April 4, 2014

    Satyam Computers founder Ramalinga Raju and another accused appeared before a court in Hyderabad in connection with a prosecution complaint filed by Enforcement Directorate against them for offences under the Prevention of Money Laundering Act (PMLA). The Enforcement Directorate in October last year had file the complaint against Raju and 212...
  • MSatTech Mahindra merger gets AP High Court approval June 11, 2013

    Hyderabad: The Andhra Pradesh High Court on Tueday approved the merger of Mahindra Satyam (MSat) with Tech Mahindra while dismissing the petitions of some shareholders seeking to stall the proposal in its current form so as to safeguard their financial interest. The Court said, however, that the investigations into the alleged...
  • Tech Mahindra shares fall as merger with Satyam delayed March 26, 2013

    Mumbai: Shares in Tech Mahindra Ltd fall 1.9 per cent, while Satyam Computer Services Ltd drops 1.6 per cent, a day after the companies said a longplanned merger between the two had been delayed by an additional six months up to September 30. The companies did not give a reason...
  • Companies Bill to prescribe norms for class action suits March 1, 2013

    In January 2009, in what is widely referred to as 'India's Enron', 300,000 shareholders of Satyam Computer Services (now Mahindra Satyam) came together and sued the company. Satyam's founder Ramalinga Raju had confessed to misstating accounts, and the company stock plummeted. The shareholders claimed damages worth Rs 5,000 crore. For...
  • Satyam exdirectors win ruling in US classaction suit January 3, 2013

    New York: 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. US District Judge Barbara Jones in New York ruled on Wednesday the lawsuits failed to allege that...
  • Erstwhile Satyam officer fined Rs 5 lakh by SEBI August 1, 2012

    Mumbai: The SEBI has imposed a Rs 5 lakh fine on the erstwhile Satyam Computer's compliance officer G Jayaraman for failing in his duty to avoid insider trading in the company's shares in December 2008 days before a major corporate scam broke out at the IT firm. Jayaraman's role came...
  • Tech Mahindra, Satyam to hire up to 10,000 staff April 11, 2012

    Bangalore: Tech Mahindra Ltd and Satyam Computer Services Ltd, which are in the process of a merger, aim to hire up to 10,000 staff for the combined entity in 2012/13 to meet an expected rise in demand for technology services. The companies also plan to complement their parent Mahindra & Mahindra...
  • Satyam fraud case: SC grants bail to 5 accused October 12, 2011

    New Delhi: The Supreme Court on Wednesday gave a conditional bail of six months to former Satyam employees G Ramakrishna, D Venkatpathi Raju, Srisailam, Ramalinga Raju's brother B Suryanarayana Raju, Satyam's former MD B Rama Raju and former PricewaterhouseCoopers (PwC) auditor Subramani Gopalakrishnan in the Rs 617 crore income tax...
  • Mahindra Satyam gets Rs 2,114 cr tax demand August 22, 2011

    Mumbai: The Income Tax Department has slapped a tax demand of Rs 2,114 crore on IT firm Mahindra Satyam (erstwhile Satyam Computer Services), after disallowing exemptions claimed by the company. "The company has received draft notices of demand for Rs 1,037.69 crore and Rs 1,075.73 crore for assessment years 200203 and...
  • SC orders status quo on Rs 617 cr Satyam tax case April 6, 2011

    New Delhi The Supreme Court on Wednesday ordered the Central Board of Direct Taxes (CBDT) to maintain status quo on its demand for Rs 617 crore income tax from Satyam Computer, while asking for a list of the actual liabilities of the scamhit information technology (IT) firm. A threejudge bench headed...
  • MahSatyam settles SEC charges for $10 million April 5, 2011

    Washington: US market regulator SEC on Tuesday said that India's fraudhit Satyam Computer Services, now Mahindra Satyam, has agreed to pay $10 million to settle charges related to the accounting scam by its promoter B Ramalinga Raju. It also said five Indiabased affiliates of Price Water House Coopers (PWC), auditors to...
  • SC notice to Satyam fraud accused on bail issue April 1, 2011

    New Delhi: The Supreme Court on Friday issued notices to Price Waterhouse (PW) partner Subramani Gopalakrishnan and Satyam Computers' former auditor VS Prabhakar Gupta over a CBI plea seeking cancellation of their bail granted by the Andhra Pradesh High Court. A bench of justices P Sathasivam and BS Chauhan issued notices...
  • Mahindra Satyam to settle US suit, pay $ 125 mn February 17, 2011

    Mumbai: Mahindra Satyam, formerly known as Satyam Computer Services, on Thursday said it has agreed to pay $125 million to settle a putative class action suit filed against the company in a United States District Court. The litigation relates to the 2009 accounting fraud at Satyam Computer, which was later taken...
  • Ramalinga Raju, 5 others to go back to jail November 10, 2010

    Hyderabad: B Ramalinga Raju, the prime accused in the multicrore Satyam accounting fraud, and five others surrendered before a trial court in Hyderabad on Wednesday. Ramalinga Raju, his brother B Rama Raju, former Satyam CFO V Srinivas and three other former employees of the IT firm G Ramakrishna, Venkatapathi Raju...
  • Ramalingam Raju to surrender before CBI court November 10, 2010

    In a big blow to B Ramalingam Raju, former chairman of Satyam Computers, the Supreme Court on Tuesday rejected a petition seeking an extension of his bail. He will now have to surrender before a special CBI court in Hyderabad. ...
  • SC directs Ramalinga Raju to surrender November 9, 2010

    New Delhi: The Supreme Court has refused to give more time to former Satyam Computers chairman B Ramalinga Raju to surrender in the multicrore accountying fraud in the IT major. The apex court heard his petition seeking an extension of time on Tuesday but directed him to surrender on November...
  • Raju leaves CBI office after 4 hours of grilling October 6, 2010

    Hyderabad: Former Satyam Chairman Ramalinga Raju left CBI office after almost four hours of questioning for the second day on Wednesday. Raju was accompanied by his brother Rama Raju and former CFO Srinivas Vadlamani in the CBI office. The CBI questioned Raju in the 14 thousand crore accounting fraud for the...
  • ExSatyam chief Raju discharged from hospital October 2, 2010

    Hyderabad: B Ramalinga Raju, former chairman of Satyam Computers and the prime accused in the Rs 14,000crore accounting fraud, was today discharged from the Nizam Institute of Medical Sciences where he was undergoing treatment for hepatitis C for the past ten months. NIMS gastroenterologist Ajit Kumar said Raju requested the hospital...
  • SC notice to Raju on plea to cancel his bail October 1, 2010

    New Delhi: The Supreme Court on Friday sought a response from Satyam Computer's disgraced founder, B Ramalinga Raju, on the CBI's plea for cancellation of his bail in the multicrore rupee accounting scam. A bench comprising Justices Dalbeer Bhandari and Deepak Sharma has issued a notice to Raju on the CBI...
  • Satyam exchief Raju reaches court in a face mask August 31, 2010

    Hyderabad: The founder of Satyam Computers B Ramalinga Raju made his fourth appearance in a Hyderabad court on Tuesday in connection with the multicrore accounting scam in the IT giant. Raju made his appearance in a medicated face mask. He had been avoiding appearing in person to testify in the case...
  • Ramalinga Raju gets bail in Satyam scam case August 18, 2010

    Hyderabad: Former Satyam chairman B Ramalinga Raju was granted bail in the multicrore scam by Andhra Pradesh High Court on Wednesday. The High Court granted bail to Raju on health grounds saying he should not be discharged from the hospital. Raju has been hospitalised at Nizam's Institute of Medical Sciences in...
  • Satyam founder Raju seeks bail, cites ill health July 28, 2010

    Hyderabad: Satyam Computer founder B Ramalinga Raju, the main accused in the fraud case in the IT giant, has applied for bail in Andhra Pradesh High Court citing medical reasons. Raju also pointed while moving his bail application on Tuesday that all other five accused have been released on bail. He...
  • Satyam's Raju a pauper now: US court January 28, 2010

    New York: A US court has declared former Satyam Computers chairman Ramalinga Raju, who last year was jailed after admitting to falsifying his company's accounts by over $1 billion, a pauper, thereby exempting him from paying court costs. Besides Raju, New York judge Barbara S Jones also approved 'pauper' status for...
  • CBI arrests Mahindra Satyam's audit head November 22, 2009

    Hyderabad: The Central Bureau of Investigation on Saturday arrested Mahindra Satyam's internal audit head V S Prabhakar Gupta for his alleged involvement in the multicrore accounting fraud in Satyam Computer. Gupta, who is senior VicePresidentcumGlobal Head of Internal Audit cell in Mahinda Satyam, held the same position in Satyam Computer...
  • Watch: ExSatyam chief feigning a heart attack? September 9, 2009

    Hyderbad: After eight months in jail on charges of fraud, forgery and cheating, the former chairman of Satyam Computers, Ramalinga Raju is now recovering in the intensive care unit of a government hospital. Raju's lawyers say he has suffered a heart attack, but the hospital says Raju is being treated...
  • Satyam exboss Raju stable, still in ICU September 8, 2009

    Hyderabad: Disgraced founder of Satyam Computer Services Ltd B Ramalinga Raju remained in the intensive care unit of a governmentrun hospital on Tuesday after he suffered a cardiac arrest in a jail in Hyderabad. His condition is said to be stable. Raju, who was in Chanchalguda Jail along with seven other...
  • Satyam, Raju owe govt Rs 541 cr in IT dues August 7, 2009

    New Delhi: The government on Friday said IT firm Satyam Computer Services, its founder B Ramalinga Raju and his familypromoted firm Maytas Group along with its other group companies owe Rs 541 crore in incometax dues. In a written reply to the Lok Sabha, Minister of State for Finance S...
  • Forbes India: Building dreams from Satyam's rubble July 16, 2009

    Creation is only the first phase. You then have to move on to the next phase of sustaining that creation to the realm of Vishnu the preserver Perhaps that is why Vishnu comes not in one, but in ten incarnations. Anand Mahindra, February 13, 2008, Nasscom Leadership Summit Anand Mahindra has...
  • Mahindra had been eyeing Satyam for a long time July 14, 2009

    Mumbai: Business decisions are never made at the spur of the moment and the belief that Anand Mahindra decided to go after Satyam Computer Services Ltd after the scam broke out is wrong. Anand Mahindra had long been eyeing the IT major. He disclosed this in an exclusive chat with Vir...