Merger of Mahindra Satyam with Tech Mahindra finally gets clearance

Jun 11, 2013 16:48 IST

#DealStream   #Mahindra Satyam   #Tech Mahindra  

Hyderabad: The Andhra Pradesh High Court today gave its approval for the merger of Mahindra Satyam with Tech Mahindra.



Justice N R L Nageswara Rao, while dismissing other petitions seeking stalling the merger, said the investigation into the alleged fraud committed by Satyam computer's former Chairman B Ramalinga Raju and others would continue.

This scheme of amalgamation has already been cleared by various institutions such as Competition Commission of India, Bombay Stock Exchange, National Stock Exchange and Bombay High Court.

Last year, Tech Mahindra and Mahindra Satyam announced their intention to merge aming to create a USD 2.4 billion entity.