Satyam drowns in claims close to Rs 10k crore

Written by: Super Admin
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New Delhi, Jun 10: The scam hit Satyam Computers still faces claims from various overseas companies that has now piled upto Rs 10,000 crore.

These claims worth about Rs 400 crore related to four overseas acquisitions made under the leadership of founder, B Ramalinga Raju and has now demanded about Rs 1,230 crore from 37 'unacknowledged' companies.

In addition to this, there is one billion dollar fraud litigation with British firm, Upaid and the US shareholders have filed against the company in US courts which estimates a demand of another one billion dollar.

Satyam Computers is trying to settle some of these claims, while it intends to 'vigorously defend' the class action law suits filed against the IT firm in the US and also the case filed by British firm Upaid in a Texas court.

At the same time, the claims made by 37 companies for a total of Rs 1,230 crore remains unacknowledged by Satyam.

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