NYSE allows Satyam time till Oct 15 to file accounts

Beleagured Satyam Co­­m­puter has been allowed by New York Stock Exchange to file its annual report by October 15, 2010.

The Hyderabad-based company will be allowed to remain listed till that time.

Satyam had asked for more time from the US stock exchange for filing its annual report. It had failed to do so earlier in the aftermath of the revelation of the multi-crore accounting scam perpetrated by its founder and then chairman Ramalinga Raju.

NYSE had then threatened to start delisting proceedings against the company. It had also warned that the scam-hit firm may be included in its late filers list. Satyam had earlier been allowed by the Company Law Board to file the necessary reports, which included the financial statements for financial years 2008 and 2009 with the statutory authorities in India as well as the stock exchanges by June 30. Satyam received a letter from NYSE on April 23 informing it about its latest decision.

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