owned by the Trust, for a joint venture to provide auto industry engineering services. Satyam told the Trust that it was an attractive business partner, with a strong brand and recognition as a leading global IT company, having a broad base of automotive customers.
It further said it was a publicly traded company and was audited, liquid, and financially stable. The Trust later formed a separate legal entity, VGE, which eventually formed a JV in the year 2000 with Satyam. The relationship, however, soured in 2005 and the matter reached arbitration.