The approval of the CLB is necessary for the new management to come in and take control of Satyam, which is currently being managed the government-appointed board members.
Ending the three-month ordeal of about 50,000 employees, Tech Mahindra had on Monday emerged as a top bidder with an offer of Rs 58 a share for a 31 per cent stake in beleaguered Satyam Computer, beating a strong rival Larsen & Toubro.Tech Mahindra would acquire the stake in an all-cash deal, followed by an open offer for a 20 per cent stake to take management control of the company.
