This Article is From Apr 09, 2009

Bidding for Satyam underway

New Delhi: Satyam's sale process is underway and at least three firms have confirmed that they have put in an initial bid for a controlling stake in the fraud-hit firm.

Satyam had set Friday's deadline for receiving initial bids.

L&T, Tech Mahindra and Spice Group have put in expressions of interest while Hindujas have pulled out of the race.

Satyam's board will meet on Saturday to review and shortlist the bids.

Satyam would provide shortlisted bidders access to business, financial and legal information.
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