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MUMBAI: The majority stake sale process in Satyam Computer Services opened on Monday, and software firm Tech Mahindra has submitted its bid. Engineering major L&T had also put in its bid to acquire control of the Hyderabad-based company.

“We have submitted the bid for Satyam Computer,'' said Mr Vineet Nayar, Vice-Chairman, Managing Director and CEO, Tech Mahindra. BK Modi's Spice Corp has not submitted a bid for Satyam. “We have not submitted bid for Satyam. Our board wanted e-auction a nd since there is no e-auction, so we decided not to participate in the process,'' said Mr B K Modi, Chairman, Spice Corp.

Cognizant Technologies has not put in its bid to acquire stake in the firm. When contacted the company spokesperson declined to comment saying “it (Cognizant) doesn't comment on speculations.''The participation of private equity major Wilbur Ross could n ot be ascertained. – PTI

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