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Satyam case to be resolved in 1-2 weeks: Upaid

Published on Thu, Jan 08, 2009 at 11:18 |  Source : CNBC-TV18

Updated at Fri, Jan 09, 2009 at 10:20  

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The Satyam-Upaid case on the Maytas deal was heard in the Texas court today, reports CNBC-TV18. Simon Joyce, CEO, Upaid, said they are likely to see a resolution in the next 1-2 weeks. The forgery and fraud case with Satyam is still pending and that case is likely to be heard in June. Satyam and parties involved are still liable, Joyce added.

 

Earlier, Upaid had filed a motion in the state court on December 17 against Satyam, two days after the Maytas deal. Upaid has asked for a testimony from Ramlinga Raju, Srinivas Vadlamani and the Head of Corporate Governance for them to testify as to why they went through with the Maytas deal and in case they were looking at moving cash out of the books largely because they feared they could loose the Upaid case.

  

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