The Mahindra Group had toyed with the idea of merging with Satyam Computer Services a year before the Hyderabad-based IT company went bust, its Chairman Anand Mahindra said on Friday.
A proposal was made to Satyam's chairman Ramalinga Raju, but he never reverted back on the proposal, Mahindra said, wondering if it was due to the faulty books of the company.
"Knowing him as I did, I had approached him the year before for a potential merger with Tech M," Mahindra said, speaking at the launch of a book tracing the 100-day journey in 2009 between Raju's explosive letter to exchanges confessing to a Rs 5,000 crore scam and Mahindra group's Tech Mahindra being chosen by a government-appointed board to take over the company in April 2009.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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