India Investing

Infrastructure development firm Maytas Infra today said it has bagged an order worth Rs 790 crore from IL&FS Transportation Networks Ltd ITNL. Read Full Story

The jailed founder and chairman of India's fraud-hit IT giant Satyam underwent emergency treatment in hospital on Tuesday after suffering a suspected heart attack, medical officials said. B. Ramalinga Raju was rushed into intensive care "complaining of chest pains and needs further evaluation," but was currently in a stable condition, said N. Satyanarayana, superintendent of the hospital in Hyderabad. Raju, 54, has been in jail for eight months since admitting that Satyam -- a celebrated symbol of India's international outsourcing expertise -- had falsified its assets by one billion dollars and inflated profits for years. In April, Tech Mahindra paid 600 million dollars for ... Read Full Story

HYDERABAD: Maytas Properties , a closely-held firm run by the son of disgraced Satyam founder B Ramalinga Raju, has tied up with Bangalore-based Shriram Properties to develop a prime property in Chennai. It hopes to get loans from banks by pledging the sale proceeds of the developed property as collateral and raise money from banks to complete the upmarket Maytas Hill County project. “The deal will ensure funds flowing into the company in small amounts now and the major portion starting in six months when sales begin at the Chennai project. We have also discussed with the banks to let them have rights over ... Read Full Story

Satyam Computer Services Ltd. (ADR) (NYSE: SAY) Satyam Computer Services Ltd. (ADR) (SAY), also known as Mahindra Satyam, provides information technology services and business process outsourcing (BPO) services in North America, Europe, the Asia Pacific, the Middle-East, Australia, Africa and South America. The Company offers a range of IT services to its customers, including application development [...] Read Full Story

Mumbai: Tech Mahindra Ltd (TechM), the new owner of the fraud-hit Satyam Computer Services Ltd, on Tuesday reported a 44% fall in quarterly profit, caused in equal parts by the cost of debt taken for buying the software firm and declining revenues from its largest client BT Group Plc. The firm’s profit for the three months ended September, its second quarter, declined to Rs169 crore from Read Full Story