What kind of a company is Mahindra Satyam?
Mahindra Satyam (formerly Satyam Computer Services Limited) was an Indian information technology (IT) services company based in Hyderabad, India, offering software development, system maintenance, packaged software integration and engineering design services.
How big is Satyam Computer Services in India?
Satyam Computer Services was founded in 1987 and by 2008 had revenues of over $2 billion, employing 52,000 IT professionals across the world. It was one of India’s five top IT companies, and focused on the enterprise segment.
How much money did Mahindra Satyam lose in panic selling?
Several of Satyam’s clients responded by re-evaluating their relationship with the company. Satyam’s investors lost about ₹3,300 crore (equivalent to ₹ 74 billion or US$1.0 billion in 2019) in the related panic selling, as Satyam’s shares fell 55% on the New York Stock Exchange.
When did Central Board of direct taxes attach Mahindra Satyam?
The Central Board of Direct Taxes attached the properties of Mahindra Satyam on 30 January 2012, after issuing notices to the company seeking payment of the tax. The Andhra Pradesh High Court stayed the order in February 2012.
When did Mahindra Satyam board of Directors resign?
Satyam’s investors lost about ₹3,300 crore (equivalent to ₹ 74 billion or US$1.0 billion in 2019) in the related panic selling, as Satyam’s shares fell 55% on the New York Stock Exchange. Four members of the board of directors resigned on 29 December 2008.
When did Mahindra Satyam declare 30% dividend?
In 2013 Mahindra Satyam declared a 30% dividend. Nayyar commented “The turnaround of Mahindra Satyam is symbolically and practically complete. The merger (with Tech Mahindra), which is in its penultimate phase, will open a new chapter for the company.
When did Mahindra Satyam issue FCD debentures?
The company also issued 37,17,000-12% FCD’s-part `B’ Rs.60 per debentures in August which can be converted into equity shares of Rs.10 each at premium of Rs.50 per share on August 1996. 1996 – During the year Two offices were set up, one in USA and other in Japan.