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  • Satyam Computers to pay around Rs 570 crore to settle US suit

    Published on February 18, 2011

    Satyam Computer services will pay around five hundred seventy crore rupees in order to settle the US shareholder litigation occurring from an accounting fraud in 2009.

    The chairman of the company Vineet Nayyar has said that the settlement will mark another step in the rehabilitation of the fraud hit company.

    He added that the settlement amount is lesser than the company had anticipated and the resolution will remove the key hurdle to Satyam’s merger with Tech Mahindra Ltd which had acquired the major share in the company in April.