Hyderabad-based Satyam Computers has set aside $1 billion (around Rs 4,100 crore) to buy companies which it finds attractive.
Satyam Computer Services expects to grow its headcount substantially in China from the current 300 to a few thousand in the next few years, even as it scouts for acquisitions to enhance its skills in areas it does not have a foothold.
The National Association of Software and Service companies has appointed S Ramadorai, chief executive officer, Tata Consultancy Services as the chairman of Nasscom for the year 2005-06.
Fourth largest software exporter from India, Satyam Computer Services on Thursday said it would expand its global footprint by opening more delivery centres and sales offices overseas.
The software company has conducted 'mass recruitment' of entry level engineers from top Malaysian universities.
The euphoria over the Rs 181 crore (Rs 1.81 billion) net profit in October-December 2008 notwithstanding, Satyam is still not out of the woods as it faces legal and other claims that could put a burden of up to Rs 10,000 crore (Rs 100 billion) on it.
Warning the Indian IT industry against complacency, the head of Satyam Computer Services has said it needs to continuously innovate to keep ahead of other developing nations including China which are 'eyeing a piece of the pie.'
The knowledge economy demands that companies must put premium on their soft assets such as workers, brand value and goodwill, B Ramalinga Raju, chairman, Satyam Computer Services, said on Friday.
Satyam Computer Services announced on Wednesday that it added 27 new clients in the quarter ended September 30, 2003.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
Following the order, Raju and others are likely to move the high court.
The trial in Satyam fraud case had concluded in second half of June before the special court, which examined 216 witnesses and marked 3,038 documents during the course of the hearing.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
Experts regretted that it has taken too long to deliver justice
A special court on Tuesday set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited.
Scam tainted B Ramalingham Raju to have tougher times ahead.
Special court will announce judgement in Satyam case on Dec 23.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Raju and his brother B Rama Raju were told to furnish personal bonds of Rs 100,000 each
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
According to a department notification, Tech Mahindra has approached the Board of Approvals under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.
The 10 accused in the case include prime accused Satyam Computers founder and former chairman B Ramalinga Raju, his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.
The Enforcement Directorate in October last year had filed the complaint against Raju and 212 others, including 166 companies, before the XXI Additional Chief Metropolitan Magistrate Court cum Special Sessions Judge here for allegedly laundering funds under a 'corporate veil' to perpetrate the accounting scam that rocked the business world in 2009.
Raju pleaded for leniency citing his philanthropic activities.
On February 17, 2009, Satyam case was handed over to CBI.
The Special Court on Monday has sentenced erstwhile Satyam chairman B Ramalinga Raju and his brother Rama Raju to six months imprisonment for violating provision of the Companies Act.
The merger process started four years ago, with the acquisition of Satyam in April 2009.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
Charges against Raju and others include criminal conspiracy and forgery.
The court directed Raju, the prime accused in Satyam scam, and others to furnish personal bond of Rs 20,000 each and sureties of the like amount on or before December 22 and posted the matter to the same date.
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
In June last year, Tech Mahindra completed acquisition of Mahindra Satyam -- erstwhile Satyam Computer Services -- to become India's fifth largest software services firm. Mahindra is also the Chairman of Tech Mahindra.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances