A division bench of Andhra Pradesh High Court has admitted a petition filed by Ekadanta Greenfields and Saptaswara Agro Farms private limited challenging the Mahindra Satyam-Tech Mahindra merger order.

The order was given by a single judge of the court in June, allowing the merger and dismissing the objections raised by a few parties.

After admitting the petition, the bench comprising N.V. Ramana and Vilas V. Afzulpurkar posted the matter to August 26.

The petitioners have appealed to the court to set aside the order and reject the scheme of amalgamation of the two firms and a few other Mahindra group companies. After getting the order, the Mahindras have absorbed Mahindra Satyam into Tech Mahindra.

The amalgamation had resulted in the formation of $2.7-billion company, making it the fifth largest IT company in the country.

The two firms, now in the fold of IL&FS Engineering and Construction Company, alleged that they were among the host of firms that lent Rs 1,230 crore to the scam-tainted company during the Ramalinga Raju regime.


(This article was published on July 24, 2013)
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