India's Supreme Court on Friday granted bail to the former chairman of Indian outsourcing giant Satyam, B. Ramalinga Raju, who is accused of one of the country's biggest corporate frauds.
India's fraud-hit software outsourcer Mahindra Satyam on Monday swung to an unexpected quarterly loss from a profit the previous quarter, hit by the cost of a one-off US lawsuit.
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 outsourcing firm Mahindra Satyam, recovering from the country's biggest-ever corporate fraud, on Monday reported its first profits since the scandal erupted.
India's Supreme Court on Tuesday cancelled bail granted to the founder of IT outsourcing firm Satyam, who is accused of staging the country's biggest corporate fraud.
India's fraud-hit software firm Satyam Computers said on Friday it plans to delist from the New York stock exchange as it may not be able to meet the US deadline to file restated financial accounts.
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.