The founder of Satyam Computer Services has been found guilty of a financial scam that brought the Hyderabad-based outsourcer to the verge of collapse before its rescue by a rival.
Satyam Computer Services, the Indian outsourcing company hit by an accounting fraud in 2009, has been merged with parent Tech Mahindra.
Satyam Computer Services is setting up a business applications testing center in Kuala Lumpur, Malaysia, for payments company MasterCard, reflecting a growing interest among customers to sign up new business with the Indian outsourcer as it recovers from a financial scandal.
Indian outsourcer Satyam Computer Services went into loss again in the quarter ended March 31, after the company took a charge to settle a class-action lawsuit in the U.S., the company said Monday.
Indian outsourcer Satyam Computer Services has agreed to pay a US$10 million penalty to the U.S. Securities and Exchange Commission (SEC) to settle charges of financial fraud, the SEC said.