Reuters / Hyderabad September 29, 2010, 19:40 IST
Tech Mahindra will start the process to merge outsourcer Mahindra Satyam with itself by mid-November, a top official of said on Wednesday.
Earlier, Mahindra Satyam reported a net loss of Rs 124.6 crore ($27.8 million) for the year ended March 2010, giving the first view of its financials almost two years after it was hit by India's biggest corporate fraud.
Tech Mahindra, which acquired Satyam in April 2009 and is operating it as an independent company, has said it can only merge the firm into the parent after the restated results for fiscal years 2009 and 2010 are announced.
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