Dispose of Mahindra case in 4 months: SC

Dispose of Mahindra case in 4 months: SC

Dispose of Mahindra case in 4 months: SC

The Centre on Monday admitted before the Supreme Court that the prosecution of IT major Tech Mahindra for money laundering of over Rs 800 crore indulged in reportedly by Satyam Computer would debar it from international operations.

A bench of Justices T S Thakur and R Banumathi took into record government’s submission and asked the Andhra Pradesh High Court to decide the company’s plea against the charges.

The apex court also restrained the trial court from proceeding with the charges for four months.

Tech Mahindra, which bought over Satyam Computer in 2013, faced prosecution under the Prevention of Money Laundering Act for receiving the tainted money to the sum of Rs 822 crore.

Additional Solicitor General Maninder Singh, appearing for the ED submitted before a bench of Justices T S Thakur and R Banumathi that the Andhra Pradesh High Court should be asked to decide the legality of the issue expeditiously.

“The criminal liability was fastened on Tech Mahindra since after the amalgamation, the company has taken over all assets and liability including criminal and civil cases. The tainted money brought in by the Satyam promoters was still lying with the company,” he said.

“If prosecuted, Tech Mahindra would be internationally debarred so some kind of modulation was required by the court,” the law officer further said.

The court, agreeing to his argument, asked the HC to dispose of the Bengaluru-based Tech Mahindra’s appeal within four months.

Tech Mahindra challenged an interim order passed by a division bench of the high court at the judicature of Hyderabad, which had allowed a special court hearing criminal cases arising out of the Satyam scam to frame charges against Tech Mahindra.

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