Govt. To Provide Help To CBI In Satyam Scam Case

The Andhra Pradesh government on Wednesday promised to render all possible assistance to the Central Bureau of Investigation (CBI) in probing the massive fraud in Satyam Computer Services after the High Court expressed its displeasure over the lack of cooperation with the investigating team. On a direction from the court, the government filed a report within two and half hours, detailing the steps... [Read more]

Satyam Board Finalises Sales Process Details

It is heard  from sources that the  Satyam board has finally arrived at a decision on the sale process. The board may not need to meet again to discuss sale process. Lawyers are working on regulatory issues and proposal may soon be sent to the Sebi and the CLB. Details of the Satyam sale process will be made public over the next few days. [Read more]  Read More →

Satyam’s Market Price Can Not Be Used For Valuation Of Satyam : Modi

Industrialist B K Modi, whose Modi group is interested in acquiring Satyam Computer, said on Saturday that the stock market valuation could not be the basis for putting a reserve price for the sale of troubled IT firm. Asserting that only action could determine the sale price for Satyam, Modi said that stock market price could not be considered a benchmark in this case, as the market was not fully... [Read more]

Fraud Hit Satyam Keen On Buy Out By Strategic Investor

The six-member Satyam Computer Services board is on a war-footing to find a strategic investor to buy out the fraud hit Indian software outsourcer, said Prem Chand Gupta, Corporate Affairs Minister, on the sidelines of a press conference on Sunday. “The board will carry out the bidding process in the most transparent manner and any company bid for Satyam subject to the proceedings being laid down... [Read more]

Satyam Stock Rises By 7%

Post, Ramalinga Raju’s Satyam scam, the company is seeing some signs of solidarity and encouragement as stocks of Satyam rose by almost 7% on  Monday. Though still at a miserable rate of Rs. 25.45, the Satyam stock rose by 7% as most of Satyam’s clients showed faith in Satyam and stated that all deliverables were delivered as per timelines and requirements. According to a stock exchange... [Read more]