HC stay on ED order to attach MSat deposits

Tags: News
The Andhra Pradesh High Court on Tuesday stayed a provisional order of enforcement directorate (ED) issued in October attaching Rs 822 crore deposits of Mahindra Satyam.

The ED had said the fixed deposits could be the money belonging to Satyam founder B Ramalinga Raju. The company contested this saying that when Satyam was acquired, it did not have any deposits and funds were borrowed to keep the operations going.

“The High Court interim judgement vindicates our position and should give further reassurance to all our customers and stakeholders regarding our ability to carry on business as usual,” the Mahindra Satyam spokesperson said.


  • EPFO would do well to have better risk management of available cash

    The Employees’ Provident Fund Organisation (EPFO) is apparently revisiting its decision to invest about Rs 6,000 crore in stocks this year.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Smart cities for the smart citizens

The 21st century has been spoken of as the urban ...

Zehra Naqvi

The prejudiced childhood

Sometimes the most unusual things can remind you of the ...

Gautam Gupta

To read about online videos, click here

ONce, not so long ago, exhorbitant costs had made sure ...


William D. Green

Chairman & CEO, Accenture