Reportedly, Maytas Infrastructure’s board related to fraud-hit Satyam Computer has bagged an offer to substitute the present founders of the company.

A US SEC team is in the country to investigate the multi-crore rupee bookkeeping scam at NYSE-enrolled Satyam Computer and its being assisted by local agencies.

Mahindra Satyam board will have a discussion on 10th July to clear the offer of Tech Mahindra looking for a second round of favored share allocation to increase its share in the recently obtained company to nearly 43% after an open bid induced a feeble reaction.

Mahindra Satyam has received the CLB authorization to assign more than 19.86crore equity shares to Venturebay, a subordinate of Tech Mahindra.

Satyam’s shareowners have turned down the open bid offered by Tech Mahindra as only 4, 20,915 shares in the firm were tendered in the bid.

Reportedly, the government now seeks to cancel the appointment of six directors as the company is owned by a new proprietor.

The Centre is expected to move the Company Law Board this week for summoning up these directors to hand over efficiently the management to the latest proprietor of IT company, Tech Mahindra six months after the government outmoded Satyam Computer’s board and selected its candidates on it.

The judicial remand of the Satyam Computer has been extended by a local court here on Wednesday by 14 days till the 8th of July.

Presently, Satyam Computer Services trades at Rs.78.7 on each share, which is high with 1 point on the Sensex.

Satyam Computer Services has been re-christened as ‘Mahindra Satyam’ by its new proprietor Tech Mahindra.