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Mahindra Satyam
Recent Posts
Mahindra Satyam settles SEC litigation for $10 million
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Satyam Computer Services and the US Securities and Exchange Commission have decided to settle a civil litigation, pertaining to a massive fraud perpetrated by its promoters. Mahindra Satyam, the brand name by which the company now calls itself, will pay $10 million or Rs 45 crore to the SEC.
Filed under: Companies, Top News, Mahindra Satyam, Satyam, Satyam Scam, Scam, SEC
Satyam profit lifted by lower wages and higher other income, stock up 11%
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Satyam Computer Services (rebranded as Mahindra Satyam) reported a 3% growth in operating income to Rs 1,279 crore, over the preceding quarter. All comparisons are for its consolidated results and on a sequential basis.
Filed under: Companies, Top News, December 2010 results, Mahindra Satyam
Mahindra Satyam spreads Diwali joy, reverses pay cuts
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Satyam Computer Services (rebranded as Mahindra Satyam) today announced that it will restore variable pay to all its employees. The decision will win the hearts of all Satyam’s employees, who were devastated by the scam. After the relief that came with Tech Mahindra acquiring the company, getting back their monetary benefits will be a boost. Continue Reading →
Filed under: Companies, Top News, Mahindra Satyam, Satyam, Satyam Scam, Scam, Tech Mahindra
Tech Mahindra gets control over Satyam board
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The government has further reduced its role in Satyam Computer Services (rebranded as Mahindra Satyam), after Tech Mahindra completed the open offer process and then followed up by hiking its stake through a preferential allotment. That completes a major part of its task ensuring that Satyam stays afloat.