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Satyam sues former directors, Price Waterhouse

Mumbai: Satyam Computer Services today said it has filed a suit in a Hyderabad court against its former Board of Directors, certain employees and the company’s audit firm Price Waterhouse seeking damages for perpetrating fraud.

“The company filed a suit in the City Civil Court, Hyderabad, against the past Board of Directors, certain former employees and Price Waterhouse, the former statutory auditors, its affiliates and partners, seeking damages for inter-alia perpetrating fraud, breach of fiduciary responsibility, obligations and negligence in performance of duties,” Satyam, now Mahindra Satyam, said in a filing to the BSE.

Satyam was taken over by the Mahindra group in 2009 and rechristened it as Mahindra Satyam, after its founder Ramalinga Raju admitted to an about Rs 14,000-crore accounting scam in 2009.

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