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Tech Mahindra wins Satyam Bid
13 Apr 2009
Tech Mahindra has emerged as the winning bidder in the Satyam fray. This could bring the much-awaited turning point in the Satyam saga, More than that it could be a big wise step that could redefine Tech Mahindra's future.
The Company has been administered by a new Board appointed pursuant to the orders of the Hon'ble Company Law Board dated January 9, 2009.
The process to select a strategic investor has reached this significant stage within three months of the new Board's first meeting. The selection of the highest bidder, in a fair, open and transparent process, signals a new stage for the Company in its progress towards stabilization and growth.
The Board selected Tech Mahindra through a global competitive bidding process launched by the Company on March 9, 2009, which was designed in accordance with the orders of the Hon'ble Company Law Board, approved by SEBI and conducted under the supervision of Justice Bharucha.
Tags
techmahindra, satyam, winning bidder
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