Satyam Computers May Delist From NYSE

Satyam Computers, India's leading Software Firm has said that the company will delist from NYSE around mid-October as they are unable to comply with NYSE policies and may not be able to produce the financial reports of 2009 by the dead line.

Satyam got lot of bad press coverage because of the multi-million dollar scam by Satyam's Ex- CEO Ramalinga Raju and his team.

The company on said its board will review its audited financial results for fiscal years 2009 and 2010 on Sept. 29, which analysts say will take it closer to a merger with parent Tech Mahindra. Tech Mahindra, which bought Satyam in April 2009 and is operating it as an independent company, has said it can only merge the firm into the parent after the restated results for fiscal years 2009 and 2010 are announced.

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