1. The quarterly results have been taken on records by the Board of Directors in its meeting held on April 27, 2009. There are no qualifications in the Auditors reports for these periods.

2. The Board of Directors of Satyam Computer Services Ltd on April 13, 2009 selected Venturbay Consultants Pvt Ltd, a wholly owned subsidiary of the Company as the highest bidder to acquire a controlling stake in Satyam Computer Services Ltd, subject to the approval of the Hon’ble Company Law Board (CLB). CLB has since granted its approval on April 16, 2009. Venturbay has deposited a sum of Rs 291069 lakhs in escrow to cover the cost of 31% preferential issue by Satyam and a 20% open offer.

3. The Inland Revenue Authorities of United Kingdom (UK) carried out Employer Compliance Review in 2004-05. In the course of the review, they demanded from the Company Rs 3,238 Lakhs for the period 2001 to 2005 claiming that the dispensation on employee allowances was not used properly. They also withdrew dispensation benefit from the year 2005-06. Based on communication from the authorities and expert opinion, the Company had provided tax liability without considering dispensation benefit. The Company represented against both these decisions. Post completion of review, the revised dispensation was restored with retrospective effect from year 2005-06. The demand for earlier period was also settled favorably. The excess of provision over liability, determined by the Inland Revenue, amounting to Rs 6728 Lakhs has been written back to expenses during quarter ended September 30, 2008.

4. Previous period figures have been regrouped/rearranged wherever necessary.

Vineet Nayyar
Vice Chairman & MD