Trouble has not ended for Satyam; Upaid case pending in Texas
Satyam has to pay 5000 cr INR if Upaid win over Satyam.
Satyam Computer Services, whose founder-chairman resigned, hasn't seen the last of its trouble as a Texas district court is scheduled to hear a case file against it by a British mobile solution firm, over the Maytas deal today.
Upaid, which is already fighting a forgery case against Satyam in a US court, had filed a motion against the software major with the state court, saying that they are looking for a testimony from Ramalinga Raju, CFO Srinvas Vadlamani, and the company's Head of Corporate Governance Jayraman after the abortive Maytas deal.
Upaid had filed a petition in Texas seeking details of the $1.6 billion acquisition of two Maytas firms, promoted by Raju's family, before Satyam dumped the deal after attack from investors.
Aberdeen, Swiss Finance exit SatyamTwo major institutional shareholders of Satyam Computer Services today exited the company following its founder-chairman Ramalinga Raju’s revelation of fraud in the IT firm’s balance sheet.
More News:
DSP Merrill Lynch terminates its engagement with Satyam
Satyam's path to disaster
Raju's resignation letter
Satyam's Statement to media
Satyam has to pay 5000 cr INR if Upaid win over Satyam.
Satyam Computer Services, whose founder-chairman resigned, hasn't seen the last of its trouble as a Texas district court is scheduled to hear a case file against it by a British mobile solution firm, over the Maytas deal today.
Upaid, which is already fighting a forgery case against Satyam in a US court, had filed a motion against the software major with the state court, saying that they are looking for a testimony from Ramalinga Raju, CFO Srinvas Vadlamani, and the company's Head of Corporate Governance Jayraman after the abortive Maytas deal.
Upaid had filed a petition in Texas seeking details of the $1.6 billion acquisition of two Maytas firms, promoted by Raju's family, before Satyam dumped the deal after attack from investors.
Aberdeen, Swiss Finance exit SatyamTwo major institutional shareholders of Satyam Computer Services today exited the company following its founder-chairman Ramalinga Raju’s revelation of fraud in the IT firm’s balance sheet.
More News:
DSP Merrill Lynch terminates its engagement with Satyam
Satyam's path to disaster
Raju's resignation letter
Satyam's Statement to media
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