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Satyam Computer Services, the Indian outsourcing company hit by an accounting fraud in 2009, has been merged with parent Tech Mahindra.
Satyam Computer Services is setting up a business applications testing center in Kuala Lumpur, Malaysia, for payments company MasterCard, reflecting a growing interest among customers to sign up new business with the Indian outsourcer as it recovers from a financial scandal.
Indian outsourcer Satyam Computer Services went into loss again in the quarter ended March 31, after the company took a charge to settle a class-action lawsuit in the U.S., the company said Monday.
Indian outsourcer Satyam Computer Services has agreed to pay a US$10 million penalty to the U.S. Securities and Exchange Commission (SEC) to settle charges of financial fraud, the SEC said.
Outsourcer Satyam Computer Services has challenged in a court in India a demand for rupees 6.16 billion (US$134 million) from India’s Income Tax Department, adding a new twist to the problems at the troubled company.
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