NYSE allows Satyam to remain listed till Oct 1
The New York Stock Exchange has given Satyam Computer time till October 15, 2010 to file its annual report and remain listed on the US bourse till then.business Updated: Apr 27, 2010 20:53 IST
The New York Stock Exchange has given Satyam Computer time till October 15, 2010 to file its annual report and remain listed on the US bourse till then.
Satyam had sought more time from NYSE to file the annual report which it could not file due to the account fudging done by the previous promoter chairman B Ramalingaraju.
The exchange had earlier said that it could commence delisting proceedings at any time during the period that is available to complete the filing, if circumstances warrant.
The Hyderabad-based company today said it received a letter from NYSE stating their decision on April 23.
NYSE communicated its decision to continue the listing of the company and to extend until October 15, 2010, the deadline for the company to complete and file its Form 20-F for the fiscal year ended March 31, 2009, with the Securities and Exchange Commission, Satyam Computer said in a communication to the Bombay Stock Exchange.
NYSE, had earlier written a letter to Satyam stating that the company will be included in the late filer's list.
The Company Law Board (CLB) had allowed Satyam to file documents — including the financial statements for the 2008 and 2009 financial years with various statutory authorities in India and with the stock exchanges by June 30, 2010.