Satyam Computer Services Ltd on Tuesday said it is providing a free data management solution, as well as IT services to 'Project Hope' in China.\n
Riding on the success of the just-concluded FIFA World Cup 2010, Satyam Computer Services Ltd (rebranded Mahindra Satyam) is gearing up to provide its technology backbone solutions to two more world sporting events.
Indian software major Satyam Computer Services Ltd plans to expand its China operations by setting up a large research and development centre as well as hiring up to 3,000 engineers by 2007, a senior executive has said.
Satyam Computer Services Ltd, said on Monday it will buy out the 24 per cent stake held by Northrop Grumman Space and Mission Systems Corp, formerly known as TRW Inc, in a joint venture, for $3.5 million.
More trouble is brewing for Maytas Properties Ltd, the unlisted company promoted by the family of Satyam Computer Services Ltd founder B Ramalinga Raju.
The government is planning to nominate full-time directors while inducting the remaining seven members in the reconstituted board of Satyam Computer Services Ltd, said a top corporate affairs ministry official. The ministry of Corporate Affairs (MCA), which got an interim order from the Company Law Board to supersede the existing board of the Hyderabad-based company, is planning to make the announcement within a week to ensure smooth functioning at Satyam.
A senior finance ministry official said, on the condition of anonymity, that the top echelons of the government tried to convince the Central Board of Direct Taxes (CBDT) for a sympathetic consideration of the company's plea in the case pertaining to the income of the erstwhile Satyam Computer Services Ltd (SCSL) from abroad.
The Comptroller of Auditor General (CAG) of India has rapped Maharashtra Government for giving 'undue benefit of over Rs 20 crore (Rs 200 million)' to controversial Satyam Computer Services Ltd by selling land at lower rates in Multimodal International Hub Airport (MIHAN) project at Nagpur.
Satyam Computer Services Ltd on Wednesday announced approval of Sponsored American Depository Shares issue against the existing equity shares of the company.
The centre named Process Manufacturing Innovation Centre of Excellence would help companies to take advantage of the advancements made in IT - mainly in areas of product and process innovation, Satyam said.
Satyam, which incorporated its sports division in 2007, will offer value-in-kind.
Satyam Computer Services Limited has commenced a competitive bidding process, which contemplates the selection of an investor to acquire a 51 per cent equity interest in the troubled IT services company.
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.
Judge ruled that ther lawsuits failed to allege that the ex-directors recklessly failed to discover the fraud.
Satyam Computer Services Ltd plans to expand its operations into smaller Chinese cities to meet the growing outsourcing requirements.
Satyam Computer Services Ltd is launching an automotive development centre in Detroit to consolidate its base in the automotive industry.
The former Satyam employees, who were granted bail, were its former internal chief auditor V S Prabhakar Gupta besides executives G Ramakrishna, D Venkatpathi Raju and Ch Srisailam. The fifth accused, who got the bail, is PWC's former auditor Subramani Gopalakrishnan.
By contrast, the fraud enabled Raju's kin and aides to make hundreds of crores, charges CBI.
The special court for economic offences here today posted six cases filed by the Serious Fraud Investigation Office (SFIO) against former directors of Satyam Computer Services Ltd in the multi-crore accounting scam to April 29 and the remaining one case to April 21.
Satyam Computer Services Ltd on Thursday announced that it would recruit fresh graduates in its first management graduates hiring programme outside India
Last week, the 20-hectare zone had got embroiled in a controversy amid reports that the state government was taking back the land. This was after allegations that the land was allotted in an unfair manner. But Chief Minister Rajasekhara Reddy said the government would not cancel the allocation as the company was "sound."
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Satyam Computer Services Ltd has posted a net profit of Rs 121.49 crore for the quarter ended June 30, 2003 as compared to Rs 108.44 crore for the quarter ended June 30, 2002.
The maximum size of the offering is 3 crore equity shares
IT major Satyam Computer Services Ltd on Monday said it would consider bonus issue and financial results for the quarter and year ended March 31 on April 21.
IT major Satyam Computer Services Ltd on Friday posted a 28.56 per cent increase in profit after tax at Rs 322.34
Satyam Computer Services Ltd on Friday posted a 35.96 per cent rise in net profit at Rs 289.90 crore (Rs 2.9 billion)
The colsolidated net profit of the company was down by 8 per cent.
Satyam Computer Services Ltd on Friday posted a 182.10 per cent jump in net profit to Rs 493.07 crore (Rs 4.93 billion) for the quarter ended December 31, 2005, as compared to Rs 174.78 crore (Rs 1.74 billion) for the corresponding quarter in previou
Satyam Computer Services Ltd on Thursday reported a 32.81 per cent rise in net profit at Rs 250.72 crore
Says Satyam is not a commodity. B K Modi of Spice had earlier pushed for e-auction, for its transparency.
The crux of the problem it appears is one of "trust" and the perception that a unilateral decision was taken by the board, allegedly to favour Raju's sons' companies.
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.
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.
All the 10 accused in the case, including prime accused Satyam Computers founder and former chairman B Ramalinga Raju and his brother and Satyam's former MD B Rama Raju, appeared in the court, as per its direction.
On February 17, 2009, Satyam case was handed over to CBI.
The Andhra police have arrested two Price Waterhouse auditors- Gopalakrishna and T Srinivas- in connection with the financial irregularities case with Satyam Computer Services Ltd.
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