Author name: Sumathi Chandrasekharan

Things have admittedly deteriorated over the past few weeks for the Indian IT company, and like a commentor on a previous post said, “one feels bad for those working at Satyam”. I caught up with Simon Joyce, the CEO of Upaid, a UK-based mobile payments technology company, for a reaction on recent developments. He said something very pithy, which I paraphrase: Upaid has been “the canary in the coalmine” in the Satyam story. It’s still singing, though, and it maybe […]

Apologies for drifting away from the main focus of this blog, but having tracked this story thus far, I thought it behoves me to at least give you an accurate explanation of latest developments: the Upaid motion that was reported on in the last post is in response to a business disparagement suit filed by Satyam in October 2008. As a follow-up to the previous post, I thought readers would be interested to know how messy the Satyam-Upaid relationship has

The Satyam-Maytas transaction had the markets swinging wildly for several hours, after Satyam Computers announced its controversial decision to first buy, and later, not buy, the real estate business owned by relatives of the Raju brothers. This very likely links with the Upaid case that has been tracked on the blog over the past year: the latest news is that Upaid has moved court seeking the testimony of top Satyam officials in re the Maytas non-deal. (Maytas is Satyam spelt

Two very interesting updates on the Upaid vs Satyam dispute, which demonstrate the premise that Sid Fernandes laid down in his guest post last week – that there must be “no surprises” in trial… No, the documents have not been de-sealed as yet, so we still don’t know what is contained in the third amended complaint that was reported on some time ago. However, I have news that almost a dozen fresh forgeries have allegedly emerged in Satyam’s dealings over

There have been interesting developments in the Texas proceedings of Upaid vs Satyam, a case that I have followed for nearly ten months now. Just last week, new filings have been made in the case, including – crucialy – (1) plaintiff’s (Upaid) motion for leave to amend the complaint; as well as (2) the third amended complaint itself. There has also been filed (3) an opposition to the motion for leave to amend. Unfortunately, for eager readers, the filings have