Tech Mahindra, an M&M-promoted company, has notified that it has successfully raised Rs 600 crore of debt through issuance of bonds.
The company said that it has allotted 6,000 non-convertible debentures (NCDs) of face value of Rs 10 lakh each, aggregating to Rs 600 crore on April 17.
Recently, Tech Mahindra through its arm Venturbay Consultants, won the race to acquire controlling stake in scam-hit Satyam Computer. The company has to pay Rs 1,756 crore by April 21, for acquisition of a 31 per cent stake in the company.
According to Economic Times' reports, Kiran Karnik, the government-appointed Chairman of the scandal-ridden Satyam Computer Services said that up to 10 percent of the company's 48,000-strong workforce might be rendered redundant, as the founder had hired excessive staff to conceal the monetary scam at the firm.
The impact of recession on Google was apparently visible in the first-quarter financial results, which the internet search giant posted on Thursday, but Google posted better than expected financial results for the first-quarter, in spite of the recession.
Mastek, a leading Indian IT solution provider with global operation, has informed that its wholly-owned US subsidiary MajescoMastek has entered into a partnership agreement with Flexi Software, a provider of best-of-breed financial accounting software, to deliver end-to-end integrated accounting solutions for insurance companies.
Chennai-based Polaris Software Lab, a financial technology company, has plans to expand its operation to 40 countries over the next five years.
After a two-week delay - likely resulting from the clamor related to the much-discussed, planned, and later canceled prospective IBM takeover - Sun Microsystems Tuesday launched its Nehalem-based server line-up, as well as a new networking product to compete with its emerging server market rival, Cisco Systems. 
