Satyam Computer, on Friday, said Tech Mahindra, which has got the CLB nod for taking over the IT firm, will take part in the company board meeting on Monday to stock of the situation.
“There is a board meeting on Monday. All Satyam directors and senior officials of Tech Mahindra will participate in the meeting to take stock of the situation,” a Satyam Computer spokesperson told PTI.
Tech Mahindra, which would appoint four directors on the Satyam Board, has to pay Rs 1,756 crore by April 22, 2009 for acquiring 31 per cent stake and complete ownership of Satyam would go to them after the completion of the open offer for another 20 per cent, he added. The aggregate amount for 51 per cent stake in Satyam is Rs 2,889 crore.
Maytas future
Meanwhile, a government nominee on the board of Maytas Infra said the board is “optimistic” about the future of the company.
“Under the chairmanship of K Ramalingam, we met Anil K Agarwal, O P Vaish, Teja Raju and a Project Management Comittee. The board is optimistic of the future of the company,” said Ved Jain, board member.
They reviewed the status on company’s construction, built-operate-transfer business and corporate debt restructuring of the company.
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