English
Specials
    Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessCompaniesTech Mahindra extends merger with Mah Satyam by 6 months

    Tech Mahindra extends merger with Mah Satyam by 6 months

    Tech Mahindra today said it has extended the proposed merger of Mahindra Satyam with itself for six months.

    March 25, 2013 / 23:00 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Tech Mahindra today said it has extended the proposed merger of Mahindra Satyam with itself for six months.
          
      The company in a BSE filing said that its "board of directors extended the validity of the (amalgamation) scheme by a further period of six months i.e. up to September 30, 2013."
          
      The board has extended "scheme of amalgamation and arrangement of Venturbay Consultants Pvt Ltd and Satyam Computer Services Ltd and C&S Systems Technologies Pvt Ltd and Mahindra Logisoft Business Solutions Ltd and CanvasM Technologies Ltd with Tech Mahindra Ltd and their respective shareholders and creditors", it said.


      Also read: Indian IT: Long term growth outlook intact, says Angel


      Tech Mahindra took over reins of the scam-tainted Satyam Computers in April 2009 and rebranded it as Mahindra Satyam.
          
      Last year, it had announced the merger of two companies and have secured the mandate of both the boards and shareholders, barring the minority ones, who have challenged the swap-ratio in the Andhra Pradesh High Court.


      In February this year, Tech Mahindra had expressed the hope that the proposed merger of Mahindra Satyam with itself will be completed shortly.

      Shares of Tech Mahindra today fell by 0.19 percent to settle at Rs 1,045.80 apiece from their previous close at the BSE.

      first published: Mar 25, 2013 10:24 pm

      Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347