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.
Satyam Computer Services' consolidated net profit under Indian GAAP has surged 39 per cent to Rs 711.64 crore (Rs 7.1164 billion) for the year ended March 31, 2005 as compared to Rs 513.38 crore (Rs 5.1338 billion) for the year ended March 31, 2004.
Satyam Computer Services, India's fourth-largest software services exporter, said on Thursday quarterly profit fell 2.2 per cent, below market expectations
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.
Satyam Computer Services Ltd was beset by selling as a drop in Q3 net profit set concerns about the entire tech sector.
Satyam Computer Services has reported a 25 per cent increase in net profit at Rs 147.59 crore (Rs 1.48 billion) for the second quarter ended September 30, 2003
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.
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.
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.
ICAI has also imposed a fine of Rs 5 lakh on each of the three accused in Satyam case.
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.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
Earlier, the Scheme of Amalgamation and Arrangement was approved by the High Courts of Andhra Pradesh and Mumbai. The company then had launched Tech Mahindra as the brand identity of the merged entity.
Special court will announce judgement in Satyam case on Dec 23.
Satyam's employees had to undergo mental trauma, job uncertainty and financial problems, after many were forced to leave.
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.
This is one of the major corporate frauds in the country.
After taking over scam-hit Satyam, Techn Mahindra has made many structural changes in the latter to turn it around.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
Raju pleaded for leniency citing his philanthropic activities.
On February 17, 2009, Satyam case was handed over to CBI.
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 incidence of shareholder activism in India is more than that in other Asian countries, according to a BNP Paribas Asia Strategy report.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
On the basis of the complaint filed by Leena Mangat, the CB-CID had filed an FIR on Jan 9, 2009.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
n February 2009, the CBI took over the investigation.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
Now, it is life as usual in the merged entity, said an associate.
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.
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Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
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