Maytas Infra will now have to submit a Rs 240 crore bank guarantee and will get a 60 day breather by paying a penalty. "The global recession and the consequent credit squeeze in national and international capital markets has created a force majeure situation. Besides, the ongoing PIL (filed by an NGO) is having an extremely deleterious effect on our ability to achieve the financial closure," said the company.
CallHealth is promoted by Sandhya Raju, the daughter-in-law of B Ramalinga Raju, founder of the scam-hit Satyam Computers.
CallHealth is promoted by Sandhya Raju, the daughter-in-law of B Ramalinga Raju, founder of the scam-hit Satyam Computers.
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.
Special court will announce judgement in Satyam case on Dec 23.
This is one of the major corporate frauds in the country.
December 16, 2008 is a day two high-profile corporate honchos from Andhra Pradesh will not forget in a hurry.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
Going by the provisions of the new company law, the responsibility and accountability equation for independent directors has seen a major change.
Auditors seem to have developed a heightened sense of risk and are not content to tick the boxes and sign the papers.
Now, it is life as usual in the merged entity, said an associate.
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.
The 30-share Sensex ended higher by 177.46 points at 28,885.21 and the Nifty gained 63.90 points at 8,778.30.
Indian business, on quite a different trajectory from its global counterpart, remains relatively insulated from any kind of backlash.
Every day when Akhilesh returns after a joust with political adversaries to his Camelot, which is Lucknow's 5, Kalidas Marg, it is time to hold court with advisors and loyalists.
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