Key Developments: Satyam Computer Services Ltd (SATY.NS)

SATY.NS on National Stock Exchange of India

115.15INR
3 Jul 2013
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Latest Key Developments (Source: Significant Developments)

Tech Mahindra Ltd Completes Process Of Allocating Shares To Shareholders Of Satyam Computer Services Limited
Friday, 12 Jul 2013 04:32am EDT 

Tech Mahindra Ltd announced that it has completed the process of allocating shares of Tech Mahindra to the shareholders of erstwhile Satyam Computer Services Limited. This also means that the issued capital of the Company has gone up from earlier 129 million shares to 232 million shares. Subsequent to the scheme of amalgamation between Mahindra Satyam and Tech Mahindra becoming effective, the Board of Directors fixed July 5, 2013 as the Record Date for Mahindra Satyam shareholders. The shares swap has since been completed and the Stock Exchanges have accorded their approval for trading the new shares effective July 12, 2013. Earlier, the Scheme of Amalgamation and Arrangement was approved by the Hon’ble High Courts of Andhra Pradesh and Mumbai. The Company then had launched Tech Mahindra as the brand identity of the merged entity.  Full Article

Tech Mahindra Ltd Announces Scheme Of Amalgamation And Arrangement With Satyam Computer Services Limited
Sunday, 7 Jul 2013 11:28pm EDT 

Tech Mahindra Ltd announced that with reference to the earlier Announcement dated June 25, 2013 in connection with fixation of record date i.e. July 05, 2013, for determining the shareholders of Satyam Computer Services Limited (Mahindra Satyam) who would be entitled to receive shares of the Company under the approved Scheme of Amalgamation and Arrangement, Tech Mahindra Ltd has informed that in accordance with the approved swap ratio i.e. two equity shares of INR10 each fully paid up in respect of 17 equity shares of INR2 each fully paid up of Mahindra Satyam, the Securities Allotment Committee of the Board of Directors on July 06, 2013 have allotted 103,485,396 equity shares of face value INR10 each fully paid of the Company to the shareholders of Mahindra Satyam.  Full Article

Tech Mahindra Ltd Completes Merger Of Satyam Computer Services Ltd-DJ
Tuesday, 25 Jun 2013 07:21am EDT 

Dow Jones reported that Tech Mahindra Ltd said it has completed the merger of associate Satyam Computer Services Ltd. with itself to create software outsourcing company. The combined entity, which will retain the Tech Mahindra Ltd. brand, will have $2.7 billion in revenue, 84,000 technology professionals, and 540 customers in 46 countries, it said in a statement. The boards of both companies approved the merger in March 2012.  Full Article

Satyam Computer Services Ltd Updates On Scheme Amalgamation And Arrangement
Tuesday, 11 Jun 2013 06:38am EDT 

Satyam Computer Services Ltd announced that with reference to the earlier announcements dated March 21, 2012 and March 25, 2013, Satyam Computer Services Ltd has informed BSE that on June 11, 2013 the Hon’ble High Court of Andhra Pradesh has approved the Scheme of Amalgamation and Arrangement of Venturbay Consultants Private Limited, Satyam Computer Services Limited, C&S System Technologies Private Limited, CanvasM Technologies Limited and Mahindra Logisoft Business Solutions Limited with the Company pursuant to provisions of Sections 391 to 394 read with Sections 78, 100 to 104 and other applicable provisions of the Companies Act, 1956. The appointed date of the Scheme is April 01, 2011.  Full Article

Bridgestone Europe Selects Mahindra Satyam formerly Satyam Computer Services Ltd To Implement And Support Its Managed Services
Thursday, 6 Jun 2013 07:33am EDT 

Mahindra Satyam formerly Satyam Computer Services Ltd announced that it has won a new multiyear contract with Bridgestone Europe for its managed services. The company will work on SAP based mission critical applications for Bridgestone Europe. As part of this deal Mahindra Satyam will support Bridgestone in Sales, Planning procurement and finance functions. Mahindra Satyam has been working with BRIDGESTONE since 2005 in providing IT application development and support services  Full Article

Mahindra Satyam Formerly Satyam Computer Services Ltd And Dion Global Solutions Ltd To Offer Complete Solution To Comply With US FATCA Regulations To Financial Insitutions In ANZ
Tuesday, 28 May 2013 01:55am EDT 

Mahindra Satyam formerly Satyam Computer Services Ltd and Dion Global Solutions Ltd announced that they will be offering a software solution to assist financial institutions in Australia and New Zealand (ANZ) meet the US Foreign Account Tax Compliance Act (FATCA) regulations. Dion’s FATCA TRAC, developed in partnership with Mahindra Satyam, is a comprehensive FATCA program management, client classification and remediation, withholding and reporting.  Full Article

Satyam Computer Services Ltd Recommends Dividend
Thursday, 16 May 2013 06:57am EDT 

Satyam Computer Services Ltd announced that the Board of Directors of the Company has recommended a Dividend of 0.60 Paise (30%) per equity share of INR2 each for the financial year 2012-13, for approval of members of the Company at the forthcoming Annual General Meeting scheduled to be held on July 31, 2013. The payout date is fixed as August 12, 2013.  Full Article

Mahindra Satyam formerly Satyam Computer Services Ltd Acquires Complex IT, Brazil
Friday, 15 Feb 2013 12:51am EST 

Mahindra Satyam formerly Satyam Computer Services Ltd announced the acquisition of a majority stake in Complex IT, a SAP consulting provider, in Brazil. Financial terms of the transaction were not disclosed.  Full Article

Mahindra Satyam Formerly Satyam Computer Services Ltd Signs Partnership Agreement With TechMatrix Corp
Tuesday, 15 Jan 2013 03:00am EST 

Mahindra Satyam formerly Satyam Computer Services Ltd announced that it has signed a partnership agreement with TechMatrix Corp, Japan. The partnership covering ASEAN region will jointly address strategic growth areas in the healthcare market and provide cloud-based healthcare solutions. TechMatrix subsidiary, Ichigo LLC, will provide its Tele-radiology network infrastructure product line and NOBORI, its Cloud service for medical and healthcare information. Mahindra Satyam in-turn will host the cloud and mobile-based services in Singapore and Malaysia while providing direct sales and IT services to clients throughout ASEAN region. As part of this partnership, Mahindra Satyam and TechMatrix will come together to invest in sales & marketing resources as-well-as software & hardware enhancement in this technology. This setup has a combination of Cloud based central servers and a set top-box like appliance, which makes following capabilities / functionalities available like maximum, multi-level security for Tele-radiology, exceptionally fast performance and vendor-neutral medical image storage, management and retrieval.  Full Article

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India regulator orders ex-Satyam executives to pay $300 million

MUMBAI - India's market regulator on Tuesday ordered five former executives of Satyam Computer Services to pay about 18.5 billion rupees ($307.72 million) because of alleged 'wrongful gains' in share transactions.

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