Hyderabad: Before its much-hyped merger with Tech Mahindra, Satyam Computer Services is facing yet legal action. An investors’ group leads by Aberdeen Asset Management has claims damages from Satyam towards the losses it suffer following the accounting scam supposedly committed by Satyam’s founder B Ramalinga Raju and his associates.
Aberdeen has raised a claim for an estimated loss in excess of $150 million and a chance loss and interest of 8% because of the investments made in Satyam.
Aberdeen has set off action against Satyam by looking for the interfering of the High Court of Justice, Queen’s Bench Division, Commercial Court in the UK.
Tech Mahindra, the recent promoter of the company, had prior settled a patent-related dispute with the UK-based Upaid. It has also established a class-action suit filed by a group of US investors by paying $125 million.
The Aberdeen assert has sustained to hang over Satyam and it was seen as one of the problems in the merger. Satyam keeps that the claim would be contested. Actually, the original assert was of $283 million. Despite Aberdeen, two other litigations stay unresolved.