Tech mahindra
Tech mahindra

Company Law Board Authorizes Satyam to Induct Strategic Investor, Raise Authorized Equity Capital and Make Preferential Allotment of Equity Shares

HYDERABAD, India, Feb. 19, 2009 – Satyam Computer Services Ltd. (NYSE: SAY), a leading global consulting and information technology services provider, announced today that its Board of Directors has received authorization from the Company Law Board (CLB) to increase its authorized equity, to make a preferential allotment of shares, and to induct strategic investor(s) into the company. The CLB order is attached.

“Satyam welcomes this move, which serves the interests of all its stakeholders,” said a company spokesperson.

Satyam Contacts:

For clarifications, write to us at MediaRelations@Satyam.com

Or contact our global Satyam PR representatives at:

India Archana Muthappa Archana_Muthappa@Satyam.com
+91-984-518-3710
Ritika Kaushik Ritika_Kaushik@Satyam.com
+91-970-326-9292
US Jim Swords James_Swords@satyam.com
+1-703-877-2225
Europe Sandeep Thawani Sandeep_Thawani@Satyam.com
+44-783-010-3838
Asia-Pacific Dan Bleakman Dan@howorth.com.au
+61-439-408-484
Reshma Wad Jain Reshma@wer1.net
+65-98-140-507


Safe Harbor

This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6-K concerning the quarter ended September 30, 2008, furnished to the Securities and Exchange Commission on November 7, 2008, and the other reports filed with the Securities and Exchange Commission from time to time.These filings are available at http://www.sec.gov.

 

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Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.4 billion company with 117,600+ professionals across 90 countries, helping over 840 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia as per Forbes 2016 list.

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.

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