Anand Mahindra Remembers Approaching Satyam Group For A Merger!

Sat Jan 21 2023 14:53:06 GMT+0530 (India Standard Time)

Anand Mahindra, the Chairman of the Mahindra Group is quite active on social media. He uses the space to help others. Recently he helped an elderly woman in Tamil Nadu who sells idlies for the least cost by gifting her a new house and facility to make more idlies easily.

The Mahindra Group Chairman also congratulates sportsmen and offers them brand new Mahindra cars as a token of appreciation. Not just Cricketers, Anand Mahindra presented gifts to other sportsmen as well for their great performance. He also shares pictures of the personalities receiving the gifts on social media.

His latest comments had raised many eyeballs as he recalled how he went very close to merging with Satyam Computer Services. The Chairman of the group said that a year before the Satyam group was busted a proposal had been made but Satyam's chairman Ramalinga Raju did not give any response.

At an event, Anand Mahindra recalled what went through Satyam's group and how his company overtook the group as per the developments and made these comments. He graced the event of a book launch that talks about the developments in 100 days starting with the Satyam scam coming out and the government picking Tech Mahindra to overtake the Satyam group.

Giving details on how he knew Satyam Ramalinga Raju, Anand Mahindra said that he knew him with the role he played in setting up the Indian School of Business in Hyderabad. This made me approach the Satyam boss. However, he did not show any interest.

"Knowing him as I did, I had approached him the year before for a potential merger with Tech M," Anand Mahindra said at the event. He made these comments while talking about how he happens to approach Raju.

 Satyam Computer Services is said to be one of the largest corporate scams in the country. With the help of false accounts, the prices of the shares were increased. The Hyderabad property market getting collapsed is the starting point of discovering the scam. In 2009, Byrraju Ramalinga Raju, the chairman of the Satyam group confessed to the irregularities and the scam involving thousands of crores.