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Outgo on legal spats at Satyam under Rs580 cr

Outgo on legal spats at Satyam under Rs580 cr
PTI
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First Published: Mon, Jun 15 2009. 12 16 AM IST
Updated: Mon, Jun 15 2009. 12 16 AM IST
New Delhi: The outgo on legal disputes at Satyam Computer Services Ltd may not exceed Rs580 crore against the reported Rs10,000 crore. Tech Mahindra Ltd, the new owner of the scam-hit company, is also hoping to settle some of disputes within six months while a few may take another couple of years, officials said.
“We don’t expect the expenses related to the legal disputes to run as high as reported in certain sections in the media. We expect some of the cases such as the Upaid case to get over by November. The US class action suits will get over in another two years,” a senior official said on condition of anonymity.
In another development, the government has granted a one-year extension to Satyam for completion of three special economic zones in Andhra Pradesh.
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First Published: Mon, Jun 15 2009. 12 16 AM IST