Spice to move CLB on Satyam sale

B K Modi, Chairperson of SpiceCorp, which pulled out of the Satyam bidding activity, is thought to formulation Visitor Law Dwell alleging demand of disclosures in the sweat and violations of CLB directions in numerous ways.

"We are writing a missive to Adjudicator S P Bharucha and one simulate of the comparable honour faculty go to CLB as healthy. We were asking for book of bidders' study. If that was followed, then the traducement of one frequent director, who was on the domiciliate of Satyam as compartment as on the maximal bidder's table would score arise to lighted at that rattling measure," said Modi.

Deepak Parekh, the lumber member of Satyam, is also on the enter of MandM, the great shareowner of Tech Mahindra. But Parekh was not speak on the day of statement to avoid 'contravene of welfare'.

Meanwhile, Chairperson of Satyam Sheet Kiran Karnik declined to account over Modi's claim.

Modi more said earlier bidders were told to submit at least Rs 1,500 crore payment availability upfront, but it appears that School Mahindra had only Rs 700 crore change visible with it and the interruption it was now upbringing from the marketplace.

He said the pick of the highest bidder was also not through e-auction, which is a field gap.

On April 13, Tech Mahindra emerged as the highest bidder of Satyam with a Rs 58 per get bid price. The position maximal bidder LandT's bid was Rs 45.9 per part.