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Satyam gets relief till Oct

April, 28th 2010
In a breather of sorts for Mahindra Satyam, formerly known as Satyam Computer Services, the New York Stock Exchange (NYSE) has given the scam-hit company time till October 15, 2010, to file its annual report and has allowed the company to remain listed on NYSE till then. Mahindra Satyam informed the Bombay Stock Exchange on Tuesday that it had received a letter dated April 23, 2010, from NYSE communicating their decision to continue listing of the company and to extend till October 15, the deadline for the company to complete and file its Form 20-F for the fiscal year ended March 31, 2009, with the US Securities and Exchange Commission (SEC). Incidentally, back home, Mahindra Satyam, which is in the process of restating its accounts after the multi-billion dollar fraud came to light following Satyam founder B Ramalinga Raju's confessions on January 7, 2009, that he cooked the company's books, has got an extension from the Company Law Board (CLB) only till June 30, 2010, for filing the restated accounts for FY 08 and FY 09.