Mahindra Satyam's AGM on Jul 31 cancelled

Mahindra Satyam, which is set to merge with Tech Mahindra, today said the Annual General Meeting (AGM) scheduled for July 31 has been cancelled.

In a BSE filing, the company said it has filed certified copies of the Andhra Pradesh High Court order paving way for the merger with Registrar of Companies, Andhra Pradesh, Hyderabad.

"In view of the above, the Board of Directors rescinded their earlier decision to hold the Annual General Meeting (AGM) and the book closure period as announced," it said.

When contacted, a Mahindra Satyam spokesperson said clarity with regard to the AGM will emerge soon and as of now the proposed AGM stands cancelled.

The Andhra Pradesh High Court on June 11 gave its approval for the merger of Mahindra Satyam with Tech Mahindra. The scheme of amalgamation has already been cleared by various institutions such as Competition Commission of India, Bombay Stock Exchange, National Stock Exchange and Bombay High Court.