Satyam s properties no way influenced by Tech Mahindra
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As per to the sources saying @ the www.propertykhazana.com, Satyam’s Government-appointed board has clearly told that the company’s new proprietor – Tech Mahindra will not able to accept any extraneous business without shareholders permission, maybe to stop any rerun of Maytas failure. It was a plan to purchase Maytas Infrastructure and Maytas Properties – two Raju families promoted companies in business of realty and infrastructure development which led to the revelation regarding Satyam fetching to be home of India’s largest ever corporate swindle. Before relinquishing the contract, Satyam’s founder and Chairman had approved the acquirement by saying that the company has to expand into non-IT businesses to stop aggressive acquirement capture efforts from the likes of global technology monster IBM.
When revealing the fiscal aberrations from many years, Chairman of Satyam Group said to www.propertykhazana.com that, “The acquirement of two Maytas firms would permit him to restore the untrue properties with real ones.” At present, when the Satyam’s government-appointed board has found a new proprietor in Anand Mahindra which led corporate residences technology limb Tech Mahindra and the contract came in between the two parties authority that the new holder will not be able to accept any extraneous business without previous approval of shareholders.
For more updates on realty market browse www.propertykhazana.com.
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