Satyam gets notices on four past takeovers

Scam-hit Satyam Computer on Tuesday said legal disputes have arisen over as many as

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four of its overseas acquisitions made prior to the disclosure of a massive fraud at the company.

While the company has been served legal notices in some cases, claims have also been sought from Satyam in a few of these disputes.

These are related to the acquisitions of US-based Caterpillar's Market Research and Customer Analytics business unit, Chicago-based strategy and general management consulting firm Bridge Strategy Group LLC, Belgium-based supply chain management consultancy firm S&V Management Consultants as also purchase of 50 per cent stake in a JV with Venture Global Engineering LLC.

These disputes are beside the widely-known class action lawsuits in the US filed after the fraud disclosure and the long-running Upaid litigation.

Satyam said that it had announced on April 21, 2008 a deal to acquire Market Research and Customer Analytics business unit from Caterpillar for 60 million dollars.

Satyam made an initial payment of 10 million dollars to Caterpillar on August 6, 2008, and a 50 million dollars promissory note was issued in favour of the US firm on the same date.

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