AP HC stsys ED order attaching Rs 822 cr deposits of Mahindra Satyam
Agencies: Hyderabad, Dec 12 2012, 20:59 IST
in violation of the orders of CLB which directed infusion of fresh capital to revive and rehabilitate the fraud-hit company.
The fixed deposits, which have been attached by the ED, are the result of the funds infusion made by the new promoter.
The attachment order defeats the process of the revival of the Company which was the objective of the CLB order and steps taken by the Government of India, Ministry of Corporate Affairs, the IT major said.
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