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Corporate | NYSE gives Satyam 6-month extension

Corporate | NYSE gives Satyam 6-month extension
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First Published: Wed, Apr 28 2010. 12 11 AM IST
Updated: Wed, Apr 28 2010. 12 11 AM IST
Mumbai: The New York Stock Exchange (NYSE) has given Mahindra Satyam more time till 15 October to file its financial results for 2008-09 with the US regulator the Securities Exchange Commision (SEC).
The exchange would proceed with de-listing procedures if the firm fails to meet the new deadline, Satyam informed the Indian stock exchanges on Tuesday.
The company is in the process of restating its books from 2000 through September 2008. India’s Company Law Board has given Satyam till 30 June to come out with the restated accounts.
Satyam, listed on the NYSE, was at the centre of India’s largest corporate accounting fraud in January 2009.
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First Published: Wed, Apr 28 2010. 12 11 AM IST