Satyam Receives SEBI Approval
April 22 2009 - 8:19AM
PR Newswire (US)
HYDERABAD, India, April 22 /PRNewswire-FirstCall/ -- Satyam
Computer Services Ltd. (NYSE:SAY)(BSE:SATYAM)(NSE:SATYAMCOMP) (the
"Company"), announced today that the Securities and Exchange Board
of India (the "SEBI") had, by letter dated 20 April, 2009 (the
"SEBI Letter"), as clarified by a letter dated 21 April, 2009 (the
"SEBI Clarification Letter"), granted certain
relaxations/exemptions/permissions from strict compliance with
applicable SEBI regulations in connection with the process followed
by the Company pursuant to Regulation 29A of the SEBI Takeover
Regulations to select an investor. As previously disclosed by the
Company, SEBI had previously granted certain in-principle
exemptions/relaxations from applicable SEBI regulations and
guidelines in connection with the process to be followed by the
Company pursuant to Regulation 29A of the SEBI Takeover Regulations
to select an investor. This press release, the SEBI Letter and the
SEBI Clarification Letter are being furnished to the U.S.
Securities and Exchange Commission (the "SEC") on Form 6-K, and are
available to the public over the Internet on the SEC's website at
http://www.sec.gov/. About Satyam Satyam (NYSE:SAY), a global
business and information technology services company, delivers
consulting, systems integration, and outsourcing solutions to
clients in numerous industries across the globe. Satyam leverages
deep industry and functional expertise, leading technology
practices, and an advanced, global delivery model to help clients
transform their highest-value business processes and improve their
business performance. The company's professionals excel in
engineering and product development, supply chain management,
client relationship management, business process quality, business
intelligence, enterprise integration, and infrastructure
management, among other key capabilities. Satyam development and
delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt,
UAE, India, China, Malaysia, Singapore, and Australia serve
numerous clients, including many Fortune 500 organizations. For
more information, see http://www.satyam.com/. DATASOURCE: Satyam
Computer Services Ltd. CONTACT: Satyam Computer Services Ltd., Web
Site: http://www.satyam.com/
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