Satyam Computer today said it had a bank balance of Rs 373 crore at the end of March 2009, but also said it had a loan outstanding worth Rs 469 crore.
The firm had an outstanding loan of Rs 200 crore at the beginning of 2009 and it availed fresh loans of Rs 369 crore in the first quarter. However, it also repaid Rs 100 crore of loan, Satyam said in a regulatory filing to the stock exchanges.
"The company's total bank balances as on March 31, 2009, were Rs 373 crore ($74.6 million). Out of the sanctioned loan limit, as on March 31, 2009, the company had availed loans worth Rs 469 crore ($93.8 million), the filing said.
The banks to which the loans are outstanding as of March 31, 2009, are, Citibank (Rs 100 crore), IDBI Bank (Rs 150 crore), Bank of Baroda (Rs 150 crore)and HDFC Bank (Rs 69 crore), it added.
During January 9-March 31, 2009, Satyam had total collections of Rs 2,064 crore. While the company has made collections worth Rs 692 crore in March, the figure stood at Rs 636 crore in February and Rs 736 crore at the end of January, Satyam said.
The scam-tainted IT firm disclosed the financial details for the period ahead of an open offer for an additional 20 per cent by its new owner Tech Mahindra. In April, Tech Mahindra had acquired a controlling stake in Satyam, outbidding others in the race, valuing Satyam at Rs 5,800 crore.
Earlier, Satyam had taken loans to the tune of Rs 225 crore from BNP Paribas as corporate guarantee for Satyam BPO, a subsidiary of the company. During the period, it has repaid loans of about Rs 56 crore, bringing down the loan dues to Rs 169 crore at the end of March 31, the statement said.
"The information has been prepared by the company with data collected using the company's internal management information system, which may not be adequate and books of accounts, making certain management estimations, assumptions and approximations," the filing added.
Satyam, counted among India's top four software exporters till last year, plunged into a crisis after founder Ramalinga Raju resigned as chairman on January 7, revealing that profits had been falsified for years and that the $1 billion cash shown in the books did not exist.