Ramalinga Raju front companies cliams 1230 crores from Mahindra Satyam
Hyderabad: B.Ramalinga Raju, who is now taking treatment in NIMS hospital in Hyderabad cleverlly arranged legal notices to Mahindra Satyam, owned by Tech Mahnidra Ltd. Satyam Computer Services Ltd has informed BSE that: “Mahindra Satyam has received legal notices from 37 companies claiming a refund of Rs. 1230. 40 crores (equivalent to around USD 265 million at exchange rate of Rs. 46. 47 per US Dollar), allegedly given as a temporary advance. The notices claim the money back to allegedly repay their creditors, some of whom include Maytas Properties Ltd. and Maytas Infra Ltd. The confession letter dated January 07, 2009, of Mr. Ramalinga Raju, former Chairman of the Company, also refers to net amount of Rs. 1230 crores arranged to the Company by the 37 companies. On November 14, 2009, Mahindra Satyam has replied to the legal notices stating
that the claims are legally untenable. ”
source: BSE
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment