Mahindra Satyam has said that it is filing lawsuits against its former directors, employees and auditor Price Waterhouse seeking damages for involving the firm in the country's biggest corporate scandal that was exposed in 2009.

Mahindra Satyam was earlier known as Satyam Computer Services and was founded by B Ramalinga Raju, who admitted in 2009 to allegations that the company manipulated its account books and inflated balance sheets. The company said on Monday that it has filed a suit in Hyderabad seeking damages for "inter-alia perpetrating fraud, breach of fiduciary responsibility, obligations and negligence in performance of duties".

Raju had taken the Indian business community and everyone else by surprise in 2009 when he revealed that the company's profits had been overstated for years and that more than $1.5 billion worth of assets have been falsified.

Former auditor, Pricewaterhouse has said that the allegations in the lawsuit by Mahindra Satyam are baseless and said that it would fight vigorously against any charges of negligence of duties.

Meanwhile, The Institute of Chartered Accounts of India (ICAI) has found Satyam's former chief financial officer Srinivas Vadlamani guilty of professional misconduct after two years of investigation into the Rs 8,000-crore Satyam fraud. The ICAI had set up a special disciplinary committee including six members in order to investigate what is India's biggest corporate scandal.

Tech Mahindra, which is a part of the Mahindra Group had purchased Satyam in an auction in April 2010 and renamed it Mahindra Satyam.