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Latest Satyam scandal Stories

2009-07-09 08:30:00

HYDERABAD, India, July 9 /PRNewswire-FirstCall/ -- Mahindra Satyam, the new brand identity of Satyam Computer Services Ltd. (NYSE: SAY), a leading global consulting and IT services provider, announced today that it has signed a new 5 year contract with GlaxoSmithKline (GSK) to provide SAP and other critical systems support to GSK's businesses across the world. Satyam has been working with GSK since 2002 to provide IT application development and support services. Bill Louv, Chief Information...

2009-05-27 13:18:00

NEW DELHI, May 27 /PRNewswire-FirstCall/ -- Satyam Computer Services Ltd. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP) (the "Company"), announced today that the appointment of the four nominee directors of Venturbay Consultants Private Limited, Mr. Vineet Nayyar, Mr. C.P. Gurnani, Mr. Sanjay Kalra and Mr. Ulhas N. Yargop (collectively, the "Venturbay Directors") to the board of directors of the Company (the "Board") would be effective as of May 27, 2009. Accordingly, the Board now comprises ten...

2009-04-22 10:44:00

HYDERABAD, India, April 22 /PRNewswire-FirstCall/ -- Satyam Computer Services Ltd. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP) (the "Company"), had earlier today announced that the Securities and Exchange Board of India (the "SEBI") had, by letter dated 20 April, 2009 (the "SEBI Letter"), as clarified by a letter dated 21 April, 2009 (the "SEBI Clarification Letter"), granted certain relaxations/exemptions/permissions from strict compliance with applicable SEBI regulations in connection with...

2009-04-02 09:59:00

HYDERABAD, India, April 2 /PRNewswire-FirstCall/ -- Satyam Computer Services Ltd. (NYSE: SAY; BSE: SATYAM; NSE: SATYAMCOMP) (the "Company") announced today that it had submitted a letter ("SEBI Letter") to the Securities and Exchange Board of India (the "SEBI") relating to a slight modification in the bidding process to be followed by the Company to select an investor. This press release and the SEBI Letter have been filed with the Bombay Stock Exchange and the National Stock Exchange. This...

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...

2009-02-21 14:01:00

- Consulting and IT leader has signed deals worth more than $250 million since Jan. 7 - Board also establishes process for potential strategic investors HYDERABAD, India, Feb. 21 /PRNewswire/ -- Satyam Computer Services Limited (NYSE: SAY), a leading global consulting and information technology services provider, today announced that its recovery is proceeding very well, and that efforts to restore stakeholder confidence and ensure business continuity have been extremely successful. "The...

2009-02-05 09:04:00

-- Longtime Satyam executive A.S. Murty to lead organization, effective immediately -- Special advisors Homi Khusrokhan and Partho Datta appointed to strengthen management and financial operations HYDERABAD, India, Feb. 5 /PRNewswire-FirstCall/ -- Satyam Computer Services Limited (NYSE: SAY), a global consulting and information technology services provider, today appointed A.S. Murty as chief executive officer. Murty, a 15-year veteran of the organization, begins immediately. "Extensive...

2009-01-27 10:49:00

- Short-term liquidity secured; payment of January salaries confirmed - Boston Consulting Group tapped as Management Advisors HYDERABAD, India, Jan. 27 /PRNewswire-FirstCall/ -- Satyam Computer Services Limited (NYSE: SAY) today announced that its board of directors has appointed Goldman Sachs and Avendus as investment bankers. The firms will help the board explore several strategic options, including identification of strategic investors; obtaining expressions of interest; and ensuring a...

2009-01-23 08:28:00

HYDERABAD, India, Jan. 23 /PRNewswire-FirstCall/ -- Satyam Computer Services Limited (NYSE: SAY) today announced several key decisions from its two-day Board of Directors meeting, which ended today. The meeting, the board's third in 13 days, was chaired by Tarun Das, and focused on ensuring Satyam's business continuity. Chief among the developments is that Satyam is in the final stages of arranging additional funding to help cover operational expenses, including salaries and vendor...


Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'