Setting aside revised orders passed by the Securities and Exchange Board of India (SEBI) against erstwhile promoters and others in the infamous Rs9,000-crore Satyam Computer Services fraud, the Securities Appellate Tribunal (SAT) directed the whole-time member (WTM) of SEBI to relook the whole issue afresh.
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SC Dismisses ED Petition for Attachment of Satyam Computer s FDs Worth Rs822 Crore
Moneylife Digital Team
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The Supreme Court (SC) has dismissed a special leave petition (SLP) filed by the enforcement directorate (ED) for attaching fixed deposits (FDs) worth Rs822 crore of erstwhile Satyam Computer Services Ltd.
In a regulatory filing, Tech Mahindra Ltd, who took over Satyam Computer Services in 2012, says, The SC vide order dated 26 February 2021 has dismissed the SLP filed by the Directorate of Enforcement, Hyderabad, for provisional attachment of fixed deposits aggregating to Rs822 crore pursuant to Section 5(1) of Prevention of Money Laundering Act (PMLA), 2002, of erstwhile Satyam Computer Services.