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HC stays Enforcement Directorate order on Maha Satyam

Mahindra Satyam has got some breather today. The Andhra Pradesh High Court today stayed enforcement's directorate's provisional attachment of Rs 822 crore worth of fixed deposits that belong to the company.

December 11, 2012 / 10:18 PM IST
 
 
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Mahindra Satyam has got some breather today. The Andhra Pradesh High Court today stayed enforcement's directorate's provisional attachment of Rs 822 crore worth of fixed deposits that belong to the company.


The ED had categorised the money as part of the supposed money laundering through Ramalinga Raju's front companies.


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Mahindra Satyam claimed that the money was brought into the company as part of investments during take over. The stay is expected to continue till the external audit report on Mahindra Satyam is out.

first published: Dec 11, 2012 09:12 pm

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