<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>News Vulture &#187; Tech Mahindra</title>
	<atom:link href="http://www.newsvulture.com/tag/tech-mahindra/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.newsvulture.com</link>
	<description>Focusing on Corruption in India. Bringing out the profiles most crooked in India.</description>
	<lastBuildDate>Wed, 08 Jun 2011 21:32:55 +0000</lastBuildDate>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.2.1</generator>
		<item>
		<title>Tech Mahindra emerged as highest Satyam bidder</title>
		<link>http://www.newsvulture.com/2009/04/14/tech-mahindra-emerged-as-highest-satyam-bidder/</link>
		<comments>http://www.newsvulture.com/2009/04/14/tech-mahindra-emerged-as-highest-satyam-bidder/#comments</comments>
		<pubDate>Tue, 14 Apr 2009 10:52:42 +0000</pubDate>
		<dc:creator>Sunbird</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[fraud hit Satyam]]></category>
		<category><![CDATA[IT Services]]></category>
		<category><![CDATA[L&T]]></category>
		<category><![CDATA[Satyam]]></category>
		<category><![CDATA[Satyam Computer Services]]></category>
		<category><![CDATA[Satyam Computers]]></category>
		<category><![CDATA[Tech Mahindra]]></category>

		<guid isPermaLink="false">http://www.newsvulture.com/?p=413</guid>
		<description><![CDATA[In a move Mahindra Group Vice-Chairman Anand Mahindra termed a “game changer”, Tech Mahindra emerged the highest bidder for Satyam. If it goes through, the deal will give Tech Mahindra a seat at the high table of the Indian IT services business. It will also mark the end of the uncertainty surrounding Satyam, though the firm’s legal and financial troubles are far from over. Tech Mahindra, which provides telecom software services, made the bid through subsidiary Venturbay Consultants Pvt. Ltd and will likely spend a total of Rs2,889 crore to acquire a 51% stake in the fraud-hit Satyam. Analysts say that the company may have to immediately invest Rs1,000 crore in Satyam for operating expenses. The deal needs to be approved by the Company Law Board (CLB), the government arm that oversees the functioning of companies. A Mahindra Group executive said money wouldn’t be a problem. “Tech Mahindra has Rs700 crore of cash available and then we have hard under-writing for the remaining amount. So, we can arrange it,” said Bharat Doshi, the group’s chief financial officer.]]></description>
		<wfw:commentRss>http://www.newsvulture.com/2009/04/14/tech-mahindra-emerged-as-highest-satyam-bidder/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Satyam employees join Bank of America</title>
		<link>http://www.newsvulture.com/2009/04/01/satyam-employees-join-bank-of-america/</link>
		<comments>http://www.newsvulture.com/2009/04/01/satyam-employees-join-bank-of-america/#comments</comments>
		<pubDate>Wed, 01 Apr 2009 09:12:19 +0000</pubDate>
		<dc:creator>Sunbird</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[Larsen & Toubro]]></category>
		<category><![CDATA[Merrill Lynch]]></category>
		<category><![CDATA[Satyam]]></category>
		<category><![CDATA[Satyam Computer Services]]></category>
		<category><![CDATA[Satyam Computers]]></category>
		<category><![CDATA[Tech Mahindra]]></category>
		<category><![CDATA[US]]></category>
		<category><![CDATA[WL Ross & Co]]></category>

		<guid isPermaLink="false">http://www.newsvulture.com/?p=343</guid>
		<description><![CDATA[About 250-300 employees from Indian outsourcer Satyam Computer Services are joining Bank of America, the Business Standard newspaper said on Wednesday. The employees were working on a Satyam project for Merrill Lynch, which was taken over by the U.S. bank after it was hit by the subprime crisis last year, it said. The project was not renewed by Merrill Lynch after Satyam was caught in India&#8217;s biggest corporate scandal and the work of managing its database and providing infrastructure support would now be done in house, the paper said. The first of these employees will join Bank of America between April 2 and 8, it said, adding they have been given salary increases of around 10 percent and joining bonuses. A spokeswoman for Satyam said: &#8220;The report is speculative.&#8221; An official at Bank of America-Merrill Lynch in India said she could not immediately comment. Satyam, whose market value has slid to $505.6 million from $7 billion last May, is in the midst of a bidding process to find a new buyer. It plunged into a crisis in January after its founder quit as chairman revealing profits had been falsified for years. Indian engineering conglomerate Larsen &#38; Toubro and mid-sized outsourcer [...]]]></description>
		<wfw:commentRss>http://www.newsvulture.com/2009/04/01/satyam-employees-join-bank-of-america/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

