Mahindra Satyam seeks more time for restatement of accounts
Press Trust of India / New Delhi Jul 16, 2009, 19:19 IST
Satyam Computer Services, now known as Mahindra Satyam, today said it has approached the Company Law Board for extension of deadline for restatement of accounts of the firm to March 31, 2010.
Confirming the move, Mahindra Satyam spokesperson said "Yes, we have approached the Company Law Board for extending the deadline to March 2010."
However, he added that Mahindra Satyam is yet to get an approval from the CLB.
KPMG and Deloittee were mandated to restate Satyam's accounts after Satyam's disgraced founder B Ramalinga Raju confessed to fudging the books in January.
The earlier deadline was December 2009.However, early this month Mahindra Satyam's executive Vice-Chairman Vineet Nayyar told reporters after meeting the Corporate Affairs Minister Salman Khursid, that the company is likey to complete the restatement of accounts by the end of this year (2009).
The restatement once completed would give a clear picture of the Satyam's revenues and profit figures.
Shares of Satyam were trading at Rs 82, up 6.08 per cent at the BSE.
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