Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: empanelment :: VAT RATES :: articles on VAT and GST in India :: cpt :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT Audit :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Mergers and Acquisitions »
 Deals of the day-Mergers and acquisitions Nov 14, 2017
 Largest cybersecurity M&A deals in 2017
 State Bank of India eyes profitable expansion outside home
 Deals of the day-Mergers and acquisitions Nov 6, 2017
 Large merger and acquisitions back in Indian pharma
 RBI norms may spur digital wallet mergers
 How Indian businesses are evolving M&A strategies
 Deals of the day-Mergers and acquisitions Nov 3, 2017
 Ease of doing business in India remains a major concern: Airtel’s Sunil Mittal
 Mergers and Acquisitions hit by demonetisation, GST roll out
 M&A deals in pharma sector decline in 2017, amid tough business conditions

Satyam may merge after June 2010
October, 27th 2009

The merger of Mahindra Satyam with Tech Mahindra is on the cards. The Mahindras are likely to go ahead with the plan after the restatement of the financials of the Hyderabad-based Mahindra Satyam.

We have the intent and desire to merge, Mr C.P. Gurnani, Chief Executive Officer of Mahindra Satyam, said.

The merger will propel the duo to the top league in the Indian ICT industry.

In an informal chat with reporters here on Monday, he admitted that the Mahindras were seriously thinking about the merger.

He, however, refused to divulge whether the proposal was discussed at the boards of the two companies.

We need to get the approvals from the AGMs and other statutory bodies, he said.

Though he did not indicate any timeline for the merger, it is likely to happen soon after the fraud-hit Satyam announces its financials. The Company Law Board has granted time till June 30, 2010, for Satyam to file its accounts.

ICT positioning

As a prelude to the merger, the duo is projecting a combined positioning as an ICT (Information, Communications and Technology) player, offering complete communication and IT solutions to the clients.

Mahindra Satyam has appointed Bain & Co as consultants to prepare a plan to win back the old customers and to offer better transformational experience and new value proposition to the new and existing customers.

NYSE listing

Responding to a question on NYSE listing, he said there was no move to delist the company from the US bourse.

On the Upaid row, he said the company was continuing talks with the British firm for an out-of-court settlement.

On the uncertainty in the deal with the FIFA for technology sponsorship, Mr Gurnani said the company had begun renegotiations with FIFA over a few terms. We are hoping to complete it by the first week of November, 2009, he said.

Refusing to go into the financials and number of associates, Mr Gurnani said the staff number was inflated.

Stating that there were signs of positive signals from the industry indicating a recovery, he said companys BPO arm had added 1,200 people in the last nine months. While 100 clients decided to leave following the crisis, over 400 clients still remained with the company.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions