No special favours to Mahindra Satyam: Minister
November 26th, 2009 - 7:14 pm ICT by IANS ( Leave a comment )New Delhi, Nov 26 (IANS) Corporate Affairs Minister Salman Khurshid Thursday said his ministry had granted no special favours to Mahindra Sataym in giving it extra time to state its book of accounts.
“No special favour is being shown to anyone. No rigidity will be shown either. I think the best that can be done for the stakeholders is being done by them. Whatever assistance they have asked, we have given,” Khurshid told reporters here.
“They had a difficult task to do and if they need more time for it, I think legal procedures give them that opportunity,” the minister added, referring to the company’s officials.
The Company Law Board (CLB) had permitted Mahindra Satyam’s request to allow it to adjust “errors, omissions, misstatement and other irregularities” prior to 2008-2009 when the company was known as Satyam Computer Services.
The CLB gave Mahindra Satyam — the IT bellwether’s new name after it was acquired by Tech Mahindra — time till June 2010 to restate the accounts.
The earlier deadline for restating the accounts was December 2009.
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- Mahindra Satyam to hire 4,000 associates this quarter - Apr 13, 2010
- Maytas diverted Rs.390 crore to Satyam: Khurshid - Aug 31, 2009
- Mahindra Satyam-Tech Mahindra merger put on hold - Feb 14, 2011
- Mahindra Satyam posts flat Q1, Q2 revenues (Lead) - Nov 16, 2010
- Mahindra Satyam posts 3 percent revenue growth in Q3 - Feb 14, 2011
- CBI seeks to examine Satyam chief by video-conferencing - Apr 23, 2010
- $10m US settlement in firm's interest, says Mahindra Satyam - Apr 06, 2011
- Two-fold jump in Mahindra Satyam's net profit - Aug 10, 2011
- IT department freezes accounts of Mahindra Satyam - Mar 22, 2011
- Mahindra Satyam posts flat revenues in first two quarters - Nov 15, 2010
- Government hopeful US will not impose any penalty on Satyam - Jul 13, 2010
- Satyam fraudulent entries by Raju at Rs.6,800 crore - Sep 29, 2010
- Tech Mahindra-Satyam to merge in November - Sep 29, 2010
- Mahindra Satyam's merger with Tech Mahindra next year - Nov 10, 2011
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