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UNTENABLE (INVALID) CLAIMS
Posted by :
bull2k
The creditors had given credits to some third parties other than Satyam. So Satyam is not Legally Liable to pay a single rupee to any body. That is why Satyam has replied (on 14 th November, 2009) to the Legal Notice stating that the Claims are legally UNTENABLE (INVALID).
L&T, Mahindra Group and others were fully aware of all these facts before they have invested and contested for Satyam.
Now L&T has sold a part of shares as a part of their internal policy. To my belief they will remain invested till the share price grows up substantially.
So dear retail investors, please don’t get panicked. The recent developments are not NEW. Try to hold your stocks for a period as much as you can or else at least till January 31st.
Some people will start throwing rumours during this period to snatch your stocks at low price as it is the right time to invest in Satyam as the OTHER SHARE PRICES has gone up tremendously and is now time to DECLINE.
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Mahindra satyam may not see above 100 mark again....
Posted by :
selvam
Ok Sir... is there two different things..fundamentals and `as are seen by him` isnt it seem different at least?
I am not at all questioning your wisdom,but just trying to give a different perspective,that`s all...
Satyam gets notices from 37 companies
Posted by : tara23they may not give a single pie.. as of now or in future...
Satyam gets notices from 37 companies
Posted by :
mastbullThese companies see a claim with revived mahindra satyam as their ticket to easy money.Whatever happens,let us hope litigation cycle would not delay and affect the results....
Mahindra satyam may not see above 100 mark again....
Posted by : ramu.gurazalaNo my dear greatstmi mahindra satyam fell down below 100 last month also when there is no sell from L&T it is a normal fall wait in one or two days if company gets new order again it will go to 120 it will play in a range of 90 to 125 untill results come out if results come out then will go to 180 levels...
Satyam gets notices from 37 companies
Posted by : dipakgodThis is the part of bussiness....
Satyam gets notices from 37 companies
Posted by : dipakgodThis is the part of bussiness....
Satyam gets notices from 37 companies
Posted by : brainchild
This is nothing new, a part of scam itself
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Mahindra satyam may not see above 100 mark again....
Posted by : greatestmj*Crosses 100 part is.....if it goes around 95 and then if it retraces to 100s levels. Sorry for confusion....
Mahindra satyam may not see above 100 mark again....
Posted by : greatestmj
The support level has been dropped from 100 to 90 now. That is only with so much bad happenings for the stock. L&T sale brought the value down from 117 to 107 levels.
And now stupid Maytas is trying to seek 1200 crores which Satyam claims is already given to them.
So I am now confused about the stock as there is definitely weakness built on the stock which is why its been dragging down. Anyway I would book my profits if it goes anywhere near 95 and will rebuy if it goes further down or if it crosses 100 again....
Mahindra Satyam to reach Rs 200 by end of 2009 and 300 in April 2010.
Posted by : SM_1
UPDATE:Satyam Sees Strong Revenue Growth From Engineering Services
17 Nov 09 06:27
DOW JONES NEWSWIRES
MUMBAI -(Dow Jones)- India`s Satyam Computer Services Ltd. (500376.BY) expects "significant" growth in revenue from its engineering services division through synergies with its parent group, Mahindra & Mahindra Ltd. (500520.BY), an executive said Tuesday.
The Hyderabad-based software exporter can now design and build automobile and aircraft components for clients, leveraging the manufacturing expertise and capability of automaker Mahindra & Mahindra, Karthikeyan Natarajan, a Satyam vice president, told Dow Jones Newswires on the sidelines of an industry conference.
Before, Satyam - now branded as Mahindra Satyam - used to supply component designs to clients and not build the component.
The engineering services operation contributed about 7.5% to Satyam`s revenue prior to a confession by former Satyam founder and chairman Ramalinga Raju in January that he cooked the company`s accounts for several years.
After Raju`s confession, a government-appointed board took control of Satyam and held an auction.
The current contribution of engineering services is unknown as Satyam in the process of restating its accounts.
Natarajan said the likely growth in research and development expenditures by engineering and manufacturing companies will also boost Satyam`s revenue from the sector.
The company expects revenue to grow particularly from the aerospace sector, as India`s defense industry is expected spend to about $8 billion to $9 billion on new aircraft, Natarajan said.
A multinational company has to mandatorily spend around 30% of the contract value in sourcing services from local companies in the case it wins a defense contract in India, which gives Satyam an added opportunity, he said.
Still, the engineering division is focusing on acquiring clients mainly in Europe and the U.S., he said.
Seven of the 35 clients that Satyam added since the April auction were from the engineering and manufacturing sector, Natarajan said.
Tech Mahindra Ltd. (532755.BY) - a joint venture between Mahindra & Mahindra and U.K. telecommunications company BT Group PLC - won an auction in April to buy a 31% stake in Satyam. It currently holds 42.7% of Satyam. ...
Strong support at 102
Posted by : ramu.gurazalaMahindra satyam has strong support at 102 if it breaches it can slips to 90 levels but chances are very less to slip below 90 if at all it goes to 90 levels it is good investing opportunity....
Satyam gets notices from 37 companies
Posted by : christian123
HYDERABAD: In what could be a major setback for the Mahindras as well as the restatement of Satyam accounts, Mahindra Satyam has received legal
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notices from 37 companies staking claim to a refund of Rs 1230.4 crore that was allegedly given as a temporary advance to the then Satyam Computer Services.
"The notices have claimed the return of money to `repay creditors`, some of whom include Maytas Properties Ltd and Maytas Infra Ltd", Mahindra Satyam said in a filing to the bourses on Tuesday.
Mahindra Satyam also told the bourses that it had replied to the legal notices on November 14, 2009, stating that the claims were "legally untenable". The company also said that Satyam founder Ramalinga Raju`s confession letter dated January 7, 2009, too had made a reference to "a net amount of Rs 1,230 crore arranged to the company by the 37 companies".
Incidentally, after the Satyam scam broke out, Raju`s younger brother Suryanarayana Raju too is learnt to have written a letter to Satyam, seeking a refund of over Rs 1,200 crore which he claimed were given by Raju family-owned private companies.
Recently, even Maytas Infra`s new owner-- IL&FS-- has written to Mahindra Satyam, giving proof of a transfer of Rs 20 crore through two front companies — Angeerasa Greenfields and Saptaswara AgroFarm — on July 31, 2008, into Satyam accounts through the Hyderabad branch of Axis Bank.
The IL&FS letter is also understood to have asked Mahindra Satyam to show the money as debt in their accounts, which are being restated by KPMG. The Mahindras, incidentally, have got an extension up to June 30, 2010, for submitting the restated Satyam accounts to various regulatory authorities.
It was government-appointed director on the board of Maytas Infra and Maytas Properties, Ved Jain, who had disclosed in July that the two companies had given Rs 392 crore and Rs 220 crore respectively to Satyam via privately- owned companies. ...
Mahindra satyam will be merged into Tech mahindra in 2010....
Posted by : marketmanL&T need not wait for the remaining sale,can take profit and pay taxes.......
Mahindra satyam will be merged into Tech mahindra in 2010....
Posted by : bdj
hi vuppala1948,
exactly. I have been shouting from the top of my roof since very long. I want the co to annouce its results for the current working. Anyway let us hope, MS, SEBI and CLB takes note of our advice.
Regards
Naidu
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