Investors urge caution on Satyam merger
he company is likely to be merged with parent company Tech Mahindra
he company is likely to be merged with parent company Tech Mahindra
Over a year after Indian outsourcer Satyam Computer Services reported a major financial fraud at the company, research firm Forrester still cautions customers doing business with it.
Indian outsourcer Satyam Computer Services has moved to a larger facility in Cyberjaya in Malaysia, with plans to make it the company's largest development and services delivery facility outside India, it said in a filing on Tuesday to the Bombay Stock Exchange.
Indian outsourcer, Satyam Computer Services, has received legal notices from 37 companies, demanding the return of 12.3 billion Indian rupees (US$267 million) they claim were paid to the company as temporary advances, Satyam said in a filing on Tuesday to the Bombay Stock Exchange.
Satyam Computer Services has added 32 new clients since May, indicating that a turnaround in the scandal hit company has started, a company spokesman claimed on Wednesday.
Troubled Indian outsourcer Satyam Computer Services announced the appointment of a new CEO and chief financial officer (CFO) on Tuesday. The two are former executives of Mahindra Group, the business group in the process of acquiring a majority stake in Satyam.
Satyam's government-appointed board has announced plans to choose a buyer for the troubled outsourcing vendor by mid-April. These legal tips will help the many customers still with Satyam reevaluate their options.