Crisis-ridden Satyam Computer Services on Wednesday moved the Company Law Board (CLB) to seek approval of its proposal to sell the IT company to Tech Mahindra.
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Satyam moves CLB for sale of IT co to Tech Mahindra
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Crisis-ridden Satyam Computer Services on Wednesday moved the Company Law Board (CLB) to seek approval of its proposal to sell the IT company to Tech Mahindra.
The approval of the CLB is necessary for the new management to come in and take control of Satyam, which is currently being managed the government-appointed board members.
Tech Mahindra, a company promoted by the industrial house Mahindras, won the bid to acquire 31 per cent fresh equity in Satyam on Monday.
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