Tech mahindra
Tech mahindra

Satyam Welcomes Government’s Move to Appoint Directors

Hyderabad, INDIA, January 9, 2009: Satyam Computer Services Limited (NYSE: SAY) said today that it has received a notification from the Company Law Board, Government of India, that it intends to appoint 10 nominees as directors of the company to replace the current board.

In view of this decision the board meeting originally scheduled for January 10, 2009, has been cancelled. The new board is expected to meet within 7 days of its constitution.

“We welcome this decision which will ensure uninterrupted operations and restore the confidence of all employees, customers and shareholders across the globe,” the company said.

The company added that Interim CEO Mr. Ram Mynampati had earlier written to the Securities and Exchange Board of India; the Company Law Board; the IT Secretary, Government of Andhra Pradesh; NASSCOM; and the Confederation of Indian Industry for recommendations to nominate independent directors.


Satyam Contacts:

For clarifications, write to us at MediaRelations@Satyam.com
Or contact our global Satyam PR representatives at:

India              Deepa Jayaraman deepa.jayaraman@ipan.com +91-981-980-8681
US                   Melissa Baratta mbaratta@ricochetpr.com +1-212-679-3300 ext. 118
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 07 November, 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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