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Latest Satyam Computer Services Stories

2009-04-27 10:02:00

- Dow Jones' Release of the Market Moving News Sent Shares of Both Satyam and Tech Mahindra Sharply Higher - NEW YORK, April 27 /PRNewswire/ -- On April 13, 2009, Dow Jones Newswires was first with news that Tech Mahindra was the top bidder to buy a stake in rival Satyam Computer Services. The much anticipated sale, which is expected to help revive the troubled Indian outsourcing company, could put an end to the turmoil that started in January after Satyam's founder revealed that he had...

2009-04-13 14:36:43

A joint British and Indian venture put in the winning bid for Satyam Computer Services, the outsourcing giant besieged by a massive fraud controversy. Tech Mahindra, a combined effort between British communications company BT Group and Mahindra & Mahindra, bid $1.2 billion for the company or $1.16 a share, Satyam's board said Monday, The New York Times reported. Tech Mahindra topped bids submitted by Indian engineering company Larsen & Toubro and U.S. investor Wilbur Ross, the...

2009-03-09 09:27:32

Scandal-plagued Satyam Computer Services in India has put a majority of its shares on the market, the company said. The company was rocked by an accounting scandal in January, when then-Chairman Ramalinga Raju resigned after admitting he added $1.04 billion to the company's books to make the company appear stronger. The board expects to select a winning bid in six weeks. The bidding ends March 20, CNN reported Monday. Those offering bids must prove they have at least $290 million available...

2009-03-04 13:26:34

Scandal-plagued Indian corporation Satyam Computer Services has offered itself for sale, a company board member said Wednesday. We are applying for regulatory approvals, board member Deepak Parekh, who is also chairman of the HDFC Bank, told The Hindu. The company would invite expressions of interest in the next few days. Satyam Chairman Kiran Karnik told CNN Wednesday. The company's former chairman, Ramalinga Raju, resigned in January after reportedly admitting that $1.04 billion reflected...

2009-01-23 10:26:37

A prosecutor in India said Satyam Computer Services Chairman B. Ramalinga Raju invented 13,000 fictitious employees to steal money from the company. S. Bharat Kumar, Raju's attorney, denied the charges, which include allegations that Raju used his elderly mother's name to buy land with the stolen money. All through the interrogation there were no questions about any diversion of funds, Kumar said in court, The New York Times reported Friday. And there was no admission, he said. Prosecutor...

2008-12-16 16:44:00

HYDERABAD, India, Dec. 16 /PRNewswire-FirstCall/ -- Satyam Computer Services announced that it is not going ahead with its proposed acquisition of Maytas Properties and Maytas Infra, in light of the feedback received from the Investor community. Commenting on this decision, Satyam Chairman, Mr. Raju said, "We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition. However, in deference to the views expressed...

2008-07-23 06:00:30

Indian IT services provider Satyam Computer Services has announced plans to set up IT and BPO development centers in Mexico, Chile, and Uruguay. It recently opened centers in Egypt, Brazil, and Australia, and is targeting areas outside the US, specifically Asia Pacific, Middle East, and Europe, for growth. Currently, the US contributes 60% of its business volumes, while Europe contributes 19.5%, and the rest of the world 20.5%. Ram Mynampati, president at Satyam Computers, said the...


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drawcansir
  • A blustering, bullying fellow; a pot-valiant braggart; a bully.
This word is named for Draw-Can-Sir, a character in George Villiers' 17th century play The Rehearsal.
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