Mahindra Satyam (formerly Satyam Computer Services) and Tech Mahindra have extends their yesterday’s fall and trading lower by 2% each after the Enforcement Directorate (ED) on Thursday attached fixed deposits worth of Rs 822 crore lying with Mahindra Satyam under the Prevention of Money Laundering Act (PMLA) for a period of 150 days.
“This attachment has been initiated consequent to the charge sheets filed by the Central Bureau of Investigation (CBI) against the erstwhile promoters of the company and others and investigation conducted by Directorate of Enforcement under PMLA,” Mahindra Satyam said in a filing.
The company is examining the implications of this order and will respond appropriately, it added.
Mahindra Satyam has dipped 4% at Rs 105 after opening at Rs 109 on the Bombay Stock Exchange. Tech Mahindra too, is down by around 2% at Rs 922. The stock opened at Rs 938 and hit a high of Rs 942 so far.
