The Andhra Pradesh High Court has given its approval for merger of Mahindra Satyam with its parent Tech Mahindra.
While dismissing other petitions seeking stalling the merger, the court said the investigation into the alleged fraud committed by Satyam Computers’ former chairman B Ramalinga Raju and others would continue.
This scheme of amalgamation has already been cleared by various institutions like the Bombay High Court, the Competition Commission and the exchanges. Last year, Tech Mahindra and Mahindra Satyam announced their intention to merge aiming to create a $2.4 billion entity.
