Web Sify
Follow us on
Mail
Print

Company to challenge ED order

Source : BUSINESS_STANDARD
Last Updated: Tue, Oct 30, 2012 20:01 hrs

Mahindra Satyam on Tuesday said that it would be challenging the recent Enforcement Directorate (ED) order that the company’s fixed deposits of Rs 822 crore be attached under the provisions of the Prevention of Money Laundering Act.

ED, on October 18 this year, had served a provisional attachment order on Mahindra Satyam, on the grounds that it had been identified as “proceeds of crime” committed by Satyam founder B Ramalinga Raju.


More from Sify:
blog comments powered by Disqus
  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
talking point on sify finance