Indian software outsourcer Mahindra Satyam on Monday said it had filed a case against past directors and a former auditor, seeking damages over a $1 billion accounting scam.
Indian software outsourcer Mahindra Satyam on Thursday said its quarterly net profit soared more than ten-fold, beating market estimates, as demand for outsourcing grew.
Satyam Computer Services has agreed to pay $10 million to settle US charges that former top managers inflated the Indian company's revenue, the US Securities and Exchange Commission said Tuesday.
Indian software exporter Satyam Computer Services said Thursday it will pay $125 million to settle a US class action suit, saying the step ends uncertainty over the fraud-hit firm's recovery.
India's fraud office will file charges this month against the founder of outsourcer Satyam after he admitted to falsifying profits in the nation's biggest corporate fraud, a minister said Monday.
India's Company Law Board on Thursday approved a bid from mid-sized outsourcing firm Tech Mahindra to take over graft-tainted Satyam Computer Services, an official said.
India's Tech Mahindra won the bidding Monday for Satyam Computer Services in a sale aimed at giving the fraud-rocked outsourcing giant vital capital and a new beginning.