tech mahindra

The Central Board of Direct Taxes (CBDT) is believed to have turned down the request of Mahindra Satyam to fully adjust taxes paid by its erstwhile owner Ramalinga Raju on fictitious income. Tech Mahindra had acquired Satyam Computer, after a multi-crore accounting fraud in the company came to light in January 2009. After acquisition, the company was re-branded as Mahindra Satyam. Full Article

Market regulator Sebi today refused to stay proceedings against Price Waterhouse (PW) partners S Gopalakrishan and Srinivas Talluri for their alleged involvement in the Satyam fraud case and asked them to appear before it on February 5. Full Article

The income Tax Department has demanded 570 crore from Mahindra Satyam (earlier Satyam Computer Services) for illegally claiming tax credit on fictitious income during the 2003-04 to 2008-09 period. Full Article

For the first time since its founder admitted to falsifying the company’s accounts, Satyam Computer will come out with its financials for fiscal years 2008-09 and 2009-10 on September 29. The Board of Satyam, now acquired by Mahindra Group and since Full Article

B Ramalinga Raju, the disgraced founder of the erstwhile Satyam Computer Services , and his family members wrongfully gained Rs 2,743 crore (Rs 27.43 billion), the Central Bureau of Investigation (CBI) said.For the first time, the premier investigating agency, as a part of its media workshop, discussed Satyam fraud as a case study. Full Article

Two months after taking over scam-tainted Satyam Computer Services, Tech Mahindra Sunday renamed the IT major as “Mahindra Satyam”. The logo will be adopted from the Mahindra Group. ‘This strategic move paves the way for the emergence of a robust brand, which draws from the core values of the Mahindra group and the inherent strength [...] Full Article

Tech Mahindra plans to appoint two auditors at Satyam Computer Services as part of its initiative to enhance the corporate governance standard of the fraud-hit software exporter, said a top Tech Mahindra executive. But, the appointments will have to be ratified by Satyam shareholders. Satyam’s corporate governance practices and the role of its auditors came [...] Full Article

India’s accounting standards regulator on Wednesday opposed the proposed sale of Satyam Computer Services to Tech Mahindra before restating the accounts of the scam-hit IT outsourcing company. “I am not happy with the deal as the company’s correct financial position was not yet known,” Institute of Chartered Accountants of India (ICAI) president Uttam Prakash Agarwal [...] Full Article