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AIG denies liability insurance to Satyam
Satyam's legal liabilities might weigh heavily on the company's pockets. The word on the street is that its directors and officers liability insurance claim has been rejected by Tata AIG. CNBC-TV18's Avni Raja delves deeper.
Satyam's legal liabilities might weigh heavily on the company's pockets. The word on the street is that its directors and officers liability insurance claim has been rejected by Tata AIG. CNBC-TV18's Avni Raja delves deeper.
There seems to be no end to Satyam's troubles. There is no clarity on its assets and liabilities yet. Tata AIG has rejected its directors and officer's liability insurance claim. The policy limit which is the amount that the insurer would pay if the claim is accepted is said to be only one-tenth of its liability. In Satyam's case the true picture of this liability is still not known. Insurer Tata AIG has still refused to comment citing the confidentiality clause of the policy. Satyam is also yet to respond to CNBC-TV18's query.
