Revived Satyam merged into parent Tech Mahindra
Satyam Computer Services, the Indian outsourcing company hit by an accounting fraud in 2009, has been merged with parent Tech Mahindra.
Satyam Computer Services, the Indian outsourcing company hit by an accounting fraud in 2009, has been merged with parent Tech Mahindra.
Indian outsourcer, Satyam Computer Services, which is on the recovery after a corporate scandal, said that revenue and net profits grew in the third quarter ended Dec. 31.
Satyam Computer Services' revenue skidded in the Indian fiscal year, even as a new management tried to reassure customers and employees, according to financial results released belatedly by the company.
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.