Tech Mahindra And Satyam Computers

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  Infosys President Mohit Joshi Resigns From Post; to Join Tech Mahindra as CEO, MD

  IT company Tech Mahindra on Saturday announced the appointment of former Infosys president Mohit Joshi as MD and CEO designate, who will take over the charge from C P Gurnani after his retirement on December 19 this year. Joshi will replace Gurnani who has been one of the longest serving chief executive officers of the Indian IT sector.

• Didn't Anticipate Legal Hurdles After Satyam Buy: Mahindra

  Surprised by tax claims on its investments in the scam-tainted Satyam Computers, Mahindra Group chairman Anand Mahindra said he had not anticipated that the group will be battling Indian government and tax authorities in court for its own money.

• Court to Fix Date for Satyam Verdict on June 26

  Raju and others were charged with offences ranging from cheating, criminal conspiracy, forgery, breach of trust under relevant sections of IPC by way of inflating invoices and incomes, account falsification, faking fixed deposits, besides allegedly falsifying returns through violation of various I-T laws.

• US court orders fresh proceedings into claims against Satyam

  Satyam, whose founder and then Chairman B Ramalinga Raju, had admitted in January 2009 a long-running fraud at the company, was later acquired by Tech Mahindra and its entire business was integrated with the new owner earlier this year.

• Tech Mahindra seeks transfer of Satyam SEZs

  According to a department notification, Tech Mahindra has approached the Board of Approvals (BoA) under the Department of Commerce for transferring rights of three SEZs (one in Tamil Nadu and two in Andhra Pradesh) and the proposal will come up for a discussion before the BoA on August 30.

• Satyam lives on as part of Tech Mahindra

  Its journey saw a fraud bringing down the company's valuation by over 95 per cent within weeks, while a subsequent revival brought in an over 10-fold surge from the dumps.

• Mahindra Satyam shares to stop trading from July 4

  Mahindra Satyam (erstwhile Satyam Computer Services Ltd), which merged into Tech Mahindra last month, will become history in the records of BSE and National Stock Exchange (NSE) as trading of the company's scrip is likely to end from July 4.

• Mahindra Satyam-Tech Mahindra merger gets court approval

  The Andhra Pradesh High Court approved on Tuesday the merger of Mahindra Satyam (MSat) with Tech Mahindra while dismissing the petitions of some shareholders seeking to stall the proposal in its current form so as to safeguard their financial interest.

• The Week Ahead: Oversold market to bounce back

  The week ahead should see the stock markets bounce back after being heavily oversold in the short term. Fall in oil prices, expectation of good results and fall in bond yields will likely help markets rally next week.

• Goldman starts Tech Mahindra, Satyam with 'buy' ratings

  Tech Mahindra Ltd shares gain over 2 per cent and Satyam Computer Services Ltd rises around 1 per cent after Goldman Sachs initiates coverage of both companies with "buy" ratings.

• Tech Mahindra extends merger with Mahindra Satyam by 6 months

  Tech Mahindra said on Monday that it has extended the proposed merger of Mahindra Satyam with itself for six months.

• Kotak downgrades Satyam Computer after Q3 earnings

  Kotak Institutional Equities downgraded Satyam Computer Services Ltd to "reduce" from "add", noting the October-December revenue growth which was "muted", given the impact from furloughs in the high-tech and manufacturing segments.

• Satyam, Tech Mahindra starts integration process

  Mahindra Satyam and Tech Mahindra have started defacto integration process and are only waiting for the legal assent for formal merger, Mahindra Satyam chairman, Vineet Nayar said on Thursday, adding that the process of merger was in the final stage and it would soon get the court's nod.

• Mahindra Satyam may drop scam-tainted surname after marriage to Tech Mahindra

  After having to work twice harder than its peers to get business for nearly four years since rescuing scam-hit erstwhile Satyam Computer, Mahindra Satyam said it is now ready for a new era and a stronger market position, sans the stigma attached with the 'Satyam' name.

• Tech Mahindra to up US/Europe hiring: CEO Gurnani

  Tech Mahindra, part of India's $15.9 billion Mahindra group, has opened centres in Belgium, the Netherlands and Germany.