Satyam told to wait for judgement

HYDERABAD: The damages claim filed by Mahindra Satyam against its former board of directors, some employees and audit firm, Price Waterhouse may not be taken up by a local court immediately, a

Published: 25th January 2012 04:10 AM  |   Last Updated: 16th May 2012 06:21 PM   |  A+A-

HYDERABAD: The damages claim filed by Mahindra Satyam against its former board of directors, some employees and audit firm, Price Waterhouse may not be taken up by a local court immediately, as it has demanded court fee in cash, whereas the company prefers to pay it in draft or cheque.

Sources said, the court had advised the company to wait for judgement of a similar case that is pending before Andhra Pradesh high court.

“As per rules, the court will accept only cash.

The company argues that, since the amount involved is large, it cannot pay cash due to accounting problems.

Now the court has advised Mahindra Satyam to wait for judgement in a similar case in a higher court,” a source said.

The company has to pay 1 pc of total damages claimed in the petition as court fee.

Mahindra Satyam has claimed Rs 250 cr as damages and would have to pay Rs 25 lakh as non-refundable court fee, according to a source.

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