The Andhra Pradesh High Court has appointed auditors Brahmaiah and Company to scrutinise the scheme of amalgamation of Mahindra Satyam, Tech Mahindra and three other entities.

Continuing the hearing in the merger petition filed by Mahindra Satyam here on Friday, Justice P. V. Sanjay Kumar finalised the appointment of Brahmaiah and Co.

On Thursday, the court had directed that an independent auditor look into the complex financials involved in the amalgamation.

The independent auditor is given the mandate to submit a report by January 4, 2013, when the issue would be taken up for hearing.

The Official Liquidator had submitted to the court that the amalgamation required by a closer scrutiny by an independent auditor, keeping in mind the complexity.

A Mahindra Satyam executive, however, doesn’t see this hampering the merger plans. “It is an ongoing legal process,” he said.

(This article was published on December 7, 2012)
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