Mumbai: Indian engineering conglomerate Larsen & Toubro has not raised its holding in Satyam Computer Services beyond 12% and will wait for decisions by the market regulator and the board of the fraud-hit outsourcer, a top Larsen official said on Thursday.
“We have not decided on anything. All will be determined by what Sebi and the board decide,” Chief Financial Officer Y.M. Deosthalee said, referring to the Securities and Exchange Board of India.
Larsen had last month trebled its holding in the outsourcer, which is at the centre of the country’s biggest corporate scandal, to 12%.