SC upholds HC order in favour of Tech Mahindra

NEW DELHI: The Supreme Court today upheld a high court order setting aside an Enforcement Directorate directive to attach 8.2-blnrupee assets of Tech Mahindra Ltd, in connection with the Satyam Computer Services case. Tech Mahindra took over Satyam Computer after the scam.

The Enforcement Directorate had attached Satyam Computer's fixed deposits of 8.2 bln rupees in 2012 after Tech Mahindra had won the bid to acquire company's assets in 2009 in an auction initiated by corporate affairs ministry and overseen by a former chief justice of India.

The Supreme Court declined to interfere with the Hyderabad High Court order of Dec 31, 2018, after the enforcement agency's lawyer, Solicitor General Tushar Mehta said the agency no longer wanted to pursue the appeal against the high court order.

The order was passed by a bench headed by Justice Rohinton Nariman, which also comprised Justice B.R. Gavai.