Larsen & Toubro (L&T), one of the failed suitors for scam-hit Satyam Computer, today sold 2.32 per cent stake in the IT company (now Mahindra Satyam) for over Rs 306 crore, exactly a month after the lock-in perid on sale of its holding ended.The engineering major, which still holds 4.58 per cent in Mahindra Satyam, informed the bourses that it has "divested over 2.72 crore shares in Mahindra Satyam...
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--Indian software exporter Satyam Computer Services said Wednesday it has appointed Hari Narayanan as its head of new business development inThis...
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Engineering major Larsen &Toubro (L&T) has divested 2.72 crore equity shares (2.3%) in MahindraSatyam, which was formerly known as Satyam Computer Services, at Rs 112.50 pershare for around Rs 306 crore. This forms a third of its total holding of 6.9%stake in Mahindra Satyam, which was bought by Nomura Mauritius.Theshare price of Mahindra Satyam dropped by Rs 7.75 or 6.6% on the Bombay StockExchange...
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The Central Bureau of Investigation on Saturday arrested Mahindra Satyam's internal audit head VS Prabhakar Gupta for his alleged involvement in the multi-crore accounting fraud in Satyam Computer.Gupta, who is senior Vice-President-cum-Global Head of Internal Audit cell in Mahinda Satyam, held the same position in Satyam Computer Services Limited (SCSL).He was arrested on charges of fabricating account...
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Central Bureau of Investigation on Saturday arrested Mahindra Satyam's internal audit head V S Prabhakar Gupta for his alleged involvement in the multi-crore accounting fraud in Satyam Computer.Gupta, who is senior Vice-President-cum-Global Head of Internal Audit cell in Mahinda Satyam, held the same position in Satyam Computer Services Limited (SCSL).He was arrested on charges of fabricating account...
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Business performance at Indian software exporter Satyam Computer Services Ltd. is "more or less" in line with what Tech Mahindra Ltd. estimated when buying Satyam in April, the fraud-hit company's chief executive said Monday."The company had made certain internal assumptions for the Satyam acquisition. Our business performance is more or less in line with the business case we had built," C.P. Gurnani...
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The Central Bureau of Investigation today arrested Mahindra Satyam’s internal audit head V.S. Prabhakar Gupta for his alleged involvement in the multi-crore accounting fraud in Satyam Computer.Gupta, who is senior vice-president and global head of Mahindra Satyam’s internal audit, held the same position in Satyam Computer. He was arrested on charges of fabricating account books and co-conspiring with...
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HYDERABAD: The Central Bureau ofInvestigation (CBI) on Saturday arrested Mahindra Satyam's internal audit head VS Prabhakar Gupta for his alleged involvement in the multi-crore accountingfraud in Satyam Computer.Gupta, who is seniorVice-President-cum-Global Head of Internal Audit cell in Mahinda Satyam, heldthe same position in Satyam Computer Services Limited (SCSL).He wasarrested on charges of fabricating...
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Engineering giant Larsen and Toubro (L&T) is selling a third of its 6.9 per cent stake in Mahindra Satyam, formerly Satyam Computer Services. The transaction is expected to fetch Rs 304 crore for the company, said banking sources.“L&T opened the book on Thursday after the trading hours and the transaction will be completed by Wednesday morning. The first transaction, at Rs 112.50 a share, is at a 4.21...
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services firm Mahindra Satyam said legal notices claiming a refund of Rs12.3 billion ($265 million) by 37 companies are "legally untenable".In June, the company had received notices from a clutch of companies claiming a refund of advance payments.Mahindra Satyam, earlier known as Satyam Computer Services, was acquired by Tech Mahindra in April after the firm was hit by India's biggest corporate fraud,...
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