Current status of satyam issue

Satyam Computer Services which is presently known as Mahindra Satyam, is exercising care on damages claimed in a suit filed against its previous board of directors, certain workers and audit firm PWC to stay away from paying a higher non-refundable court fee initially. As per the sources, the company has to pay 1% of the total costs claimed in the petition as court fee and in future, it may look for more damages (costs) once they settle all the issues. The total claim will assume meaning once the trial against ex-chairman B. Ramalinga Raju and others in a local court is done with the trials. If the justice goes against the accused, the compensation claim will have more strength, sources explained.

"1% becomes big if the damage runs in to 1000 crores. It is not wise to pay such amount initially as the company is yet to make payments in different issues that the company agreed to settle," sources told Press folks