News for 'Mahindra Satyam'

Tech M-Satyam: Arduous task ahead

Tech M-Satyam: Arduous task ahead

Rediff.com20 Apr 2009

While the deal at the bid price of Rs 58 per share may bring some cheer to Satyam's shareholders as it brings to end a host of uncertainties, Tech Mahindra has a tough task on its hands, given that Satyam's revenues and client-base is diminishing slowly.

Satyam bidding in final lap

Satyam bidding in final lap

Rediff.com11 Apr 2009

With only two days left for the final bidding process to start (9 am on April 13), the government-appointed board of Satyam Computer Services is giving final touches to the modalities. And providing the extra information the potential bidders wanted.

World's 10 most outrageous CEOs

World's 10 most outrageous CEOs

Rediff.com27 Nov 2009

It's one Forbes list where none would want to figure, but Ramalinga Raju, founder-chairman Satyam Computers (now Mahindra Satyam), has managed the feat of being among the world's 10 most outrageous CEOs.

Raju named world's 4th most outrageous CEO

Raju named world's 4th most outrageous CEO

Rediff.com26 Nov 2009

Raju, the only Indian on the list dominated by Americans, owes his place on the list to his disclosure in January about committing the country's biggest ever corporate fraud.

PEs, bankers divided on  BT's TechM exit

PEs, bankers divided on BT's TechM exit

Rediff.com28 Oct 2010

Private equity (PE) players and investment bankers are divided over the timing of the BT Group's reported move to exit Tech Mahindra. BT owns about 30 per cent in TechM.

Verdict unlikely to bring curtain down on the Satyam case

Verdict unlikely to bring curtain down on the Satyam case

Rediff.com10 Apr 2015

Satyam Case has not ended after court verdict, there's lot to unfold say insiders.

Orphan Satyam adopted, says CLB

Orphan Satyam adopted, says CLB

Rediff.com16 Apr 2009

The Company Law Board on Thursday approved Tech Mahindra's proposed acquisition of a 31 per cent stake in Satyam Computer and asked the buyer to deposit Rs 1,756 crore for the deal by April 21 in a designated account.

TCS, Infy, Wipro recalling Indian staff from Japan

TCS, Infy, Wipro recalling Indian staff from Japan

Rediff.com16 Mar 2011

As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.

Sebi clears Tech M open offer for Satyam

Sebi clears Tech M open offer for Satyam

Rediff.com3 Jun 2009

However, the regulatory body has asked Tech Mahindra to share with the company's stakeholders the information Satyam had provided to the bidders.

Global R&D service providers: Wipro leads

Global R&D service providers: Wipro leads

Rediff.com19 May 2011

Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.

Talks of suitors for buyout 'baseless': Satyam

Talks of suitors for buyout 'baseless': Satyam

Rediff.com6 Jan 2009

Media reports said that three IT companies, HCL Tech, Tech Mahindra and Cognizant, are in the fray for Satyam. While a HCL spokesperson said the company does not comment on speculation, Tech Mahindra officials termed the reports as baseless.

Satyam's Australia chief, spokesperson quit

Satyam's Australia chief, spokesperson quit

Rediff.com28 May 2009

Deepak Nangia, head of Satyam's Australia unit who, in his seven-year stint, brought the company a long list of clients, including National Australia Bank, Qantas and Telstra, is the latest to quit. Confirming the development, a Satyam spokesperson said Nangia had resigned two months ago to "pursue better opportunities outside the company." This is the third high-profile departure of a Satyam global head since January.

Tech Mahindra's open offer to begin on June 12

Tech Mahindra's open offer to begin on June 12

Rediff.com22 Apr 2009

IT firm Tech Mahindra on Wednesday said its Rs 1,154.66 crore (Rs 11.54 billion) open offer for an additional 20 per cent stake in Satyam Computer will begin on June 12 and close on July 1, 2009.

Satyam seeks CLB nod for takeover

Satyam seeks CLB nod for takeover

Rediff.com15 Apr 2009

Satyam Computer has approached the Company Law Board (CLB) to seek approval for acquisition of IT firm by Tech Mahindra.

Tech Mahindra offer may not get full subscription

Tech Mahindra offer may not get full subscription

Rediff.com11 Jun 2009

Tech Mahindra's open offer for acquiring a controlling stake in Satyam Computer, which begins on Friday, may not be fully subscribed as shareholders will get a better price in the market with the shares of the tainted IT firm soaring over 33 per cent in the past three days.

Is the worst over for Satyam?

Is the worst over for Satyam?

Rediff.com5 Feb 2009

Fresh suitors have emerged, and a cleanup is proceeding under a board appointed by the government. But the fraud leaves a cloud over Indian outsourcing.

Tech Mahindra net up 58% at Rs 718.4 cr

Tech Mahindra net up 58% at Rs 718.4 cr

Rediff.com7 Nov 2013

IT services firm Tech Mahindra on Thursday posted a 57.6 per cent growth in consolidated net profit at Rs 718.4 crore (Rs 7.18 billion) for the second quarter ended September 30, aided by growth across verticals especially retail, travel and logistics and uptick in demand from Europe.

Satyam: L&T, Spice, Tech Mahindra in; iGate out

Satyam: L&T, Spice, Tech Mahindra in; iGate out

Rediff.com21 Mar 2009

Board to meet investment advisors Goldman Sachs and Avendus today.

Satyam dead, but can TechM emerge from its shadow?

Satyam dead, but can TechM emerge from its shadow?

Rediff.com26 Jun 2013

Tech Mahindra had acquired Satyam as part of a government sponsored bidding process in April 2009

Satyam has 10,000 excess staff: TechM

Satyam has 10,000 excess staff: TechM

Rediff.com22 May 2009

Satyam Computer has 10,000 excess employees, its new owner Tech Mahindra said on Friday.

Satyam seems good fit for its new owner

Satyam seems good fit for its new owner

Rediff.com14 Apr 2009

Analysts are optimistic on absorption of new clients, growth possibilities under Tech Mahindra. For Tech Mahindra, the biggest positive is that the two companies have synergies in service offerings and client portfolio, says Sabyasachi Satpathy, director and co-founder, Mindplex Consulting. Satyam will give Tech Mahindra capabilities in enterprise resource planning, systems integration, as well as vertical expertise in the embedded, manufacturing and insurance space.

Govt to support TechM to make Satyam viable

Govt to support TechM to make Satyam viable

Rediff.com9 Jun 2009

Many software companies are having extra employees and each company is trying to handle in the best possible way and in that sense Tech Mahindra and Satyam are not in an unusual position. Last week only, the minister had said that the government will not turn a 'blind eye' to the issue of layoffs in scam-hit Satyam Computer, which has now been acquired by Tech Mahindra, a group firm of Mahindra and Mahindra group.

Satyam board shortlists six bidders

Satyam board shortlists six bidders

Rediff.com24 Mar 2009

These include B K Modi's Spice, Larsen & Toubro and Tech Mahindra. iGate, which had participated in the first round of bidding, backed out from completing the second round. Global majors like IBM are understood to have entered the second round, but this could not be independently confirmed. Other names floating include that of Hewlett-Packard and KKR Private Equity Investors.

L&T not to sell Satyam pie

L&T not to sell Satyam pie

Rediff.com13 Apr 2009

Engineering major L&T on Monday said it will not dilute stake in IT major Satyam, where it lost the race to Tech Mahindra for 31 per cent strategic holding, and exuded confidence that the new owner of the Hyderabad-based giant would add value for shareholders.

Satyam settles Aberdeen, other claims in accounting fraud

Satyam settles Aberdeen, other claims in accounting fraud

Rediff.com13 Dec 2012

Pays $68 million to settle with the claimants.

Can Tech Mahindra become an IT giant?

Can Tech Mahindra become an IT giant?

Rediff.com17 Oct 2013

After lagging behind peers for years, the company changes tack to achieve ambitious revenue target of $5 billion in two years.

Anand Mahindra: 'I'm not vanishing!'

Anand Mahindra: 'I'm not vanishing!'

Rediff.com14 Feb 2020

'Family businesses have to put competent people in charge who believe they can get to the top.'
'If you don't remove the glass ceiling, you won't get the best talent.'

L&T not to dilute holding in Satyam

L&T not to dilute holding in Satyam

Rediff.com13 Apr 2009

Engineering major L&T on Monday said it will not dilute stake in IT major Satyam, where it lost the race to Tech Mahindra for 31 per cent strategic holding, and exuded confidence that the new owner of the Hyderabad-based giant would add value for shareholders.

5,000 employees quit Satyam since Sept

5,000 employees quit Satyam since Sept

Rediff.com13 Apr 2009

Fraud-hit Satyam Computer, which will soon have a new owner in Tech Mahindra, has lost about 5,000 employees during September-March period of the past fiscal.

Tech M to complete Satyams $75 million Oz project

Tech M to complete Satyams $75 million Oz project

Rediff.com1 Jul 2009

Tech Mahindra executive vice-chairman Vineet Nayyar said construction of the 10ha development on Deakin University grounds would begin as soon as discussions with the Victorian government were complete. He said the company is determined to complete the project. However, he warned that certain aspects of the initial agreement, including funding, could change.

Satyam transition may be discussed today

Satyam transition may be discussed today

Rediff.com20 Apr 2009

"Other than the induction of the new board members, Tech Mahindra will have discussions with the management to articulate the growth of the company, strengthen the governance part and also focus on cash-flow issues. The current management members, including CEO A S Murty, will continue for some time," said a source close to the development. Tech Mahindra members are also expected to take stock of operations at Satyam.

No layoff in Satyam, Tech M to take call: Karnik

No layoff in Satyam, Tech M to take call: Karnik

Rediff.com6 May 2009

Last week, three of Satyam's big clients -- Nestle, Nissan and CIBA -- who were on wait and watch mode, assured the firm of their continued support with with the firm. Nestle is also believed to have given some additional business to Satyam. Analysts had feared that post the acquisition of the firm by Tech Mahindra, clients of Satyam, who were sitting on the fence, would jump to other vendors.

Satyam not to lay off employees

Satyam not to lay off employees

Rediff.com11 Jun 2009

There will be no retrenchment in Satyam, up to 10,000 employees to be put into virtual pool, Tech Mahindra CEO Vineet Nayyar said.

What's Modi Up To?

What's Modi Up To?

Rediff.com24 Apr 2024

No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.

'Satyam is a very valuable company'

'Satyam is a very valuable company'

Rediff.com14 Apr 2009

The board -- which includes, Kiran Karnik, T N Manoharan, former chief, ICAI, and HDFC chief Deepak Parekh, appeared relieved after a marathon run of selecting a bidder for the scam-tainted firm.

The tragic saga of Satyam

The tragic saga of Satyam

Rediff.com10 Apr 2015

The end of a long, long road is in sight.

Satyam board may meet on June 11

Satyam board may meet on June 11

Rediff.com5 Jun 2009

A source close to the development pointed out that, with the newly-appointed Minister of Corporate Affairs Salman Khurshid publicly stating that Tech Mahindra would have to deal with the excess employee issue with 'sensitivity', this is one point that will surely be discussed.

TechM claims Satyam clients' confidence back

TechM claims Satyam clients' confidence back

Rediff.com3 Jun 2009

Tech Mahindra's acquisition of Satyam Computer Services, according to an internal survey, has helped in restoring the confidence of the latter's clients, many of whom were thinking of terminating their ties with the fraud-hit IT firm.

Satyam may lay off over 12,000 employees

Satyam may lay off over 12,000 employees

Rediff.com15 May 2009

Sources said that the new management made a formal announcement before senior management personnel on Thursday on the issue of reducing manpower by up to 14,000 people.

Tech M to announce open offer for Satyam today

Tech M to announce open offer for Satyam today

Rediff.com21 Apr 2009

Tech M's priorities include retaining current customers, winning back business lost as a result of the crisis, retaining key associates, winning new businesses and exploring the best ways to realise operational and structural synergies between the two companies. On the possibility of layoffs and cost-cutting, Vineet Nayyar, Tech Mahindra's vice-chairman and MD, said, "I can't say anything. The company has to be viable and we will work at it. Layoffs will be the last option."