Brahmayya and Co., the chartered accountants, has submitted their report to the Andhra Pradesh High Court on the accounts of Mahindra Satyam and other companies involved in the amalgamation of the company with some other group companies of Mahindra group.

A copy has also been given to Mahindra Satyam. But the Hyderabad-based company has declined to comment on the development.

The court had called for the third party view on the financial numbers after the Official Liquidator expressing his inability to assess as the amalgamation involved complex accounting issues. The Official Liquidator suggested to the court to go for a study by a third party.

The court has posted the matter to March 5.

The permission from the Andhra Pradesh High Court is the last hurdle for Mahindra Satyam to merge with Tech Mahindra. The two companies have received all other statutory and legal permissions.

Incidentally, the court is also listening to a winding up petition by Ekadanta Greenfields (formerly owned by former Satyam Computer Services Chairman Ramalinga Raju). A few other minority shareholders contested the swap ratio that they claimed went against the interests of Satyam investors.

(This article was published on February 27, 2013)
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