The Hindu Business Line : Satyam responds in Upaid case

Satyam Computer Services said on Tuesday that it has filed its response to the notices served on it in relation to the motion moved by Upaid, an online payment services company, in the Texas (US) court. The case is posted for January 7.

Upaid had moved the court following the aborted Satyam-Maytas deal in the third week of December 2008. While arguing that the $1.6- billion deal would deplete Satyam of its resources ahead of the judgment in the case related to $1-billion damages filed by it, Upaid called for the deposition of Mr B. Ramalinga Raju, Chairman, Mr G. Jayaraman Global Head of Corporate governance, and Mr V, Srinivas, Chief Financial Officer, of Satyam.

The original Upaid petition argued that it suffered damages to its business and prospects in excess. "We have responded to the court notices. We are waiting for its response," a Satyam spokesperson said. - Our Bureau

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