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Friday, 09/24/2010 9:14:33 AM

Friday, September 24, 2010 9:14:33 AM

Post# of 488
Satyam to delist ADRs from NYSE

Satyam Computer Services Limited

MUMBAI, Sept 24 | Fri Sep 24, 2010 9:09am EDT

MUMBAI, Sept 24 (Reuters) - Indian IT firm Mahindra Satyam (SATY.BO) said on Friday it would delist from the New York Stock Exchange in mid-October due to non-compliance, adding that it would likely miss its deadline to report financial results for fiscal year 2009.

Satyam (SAY.N) shocked investors in January 2009 when the firm's former chairman and founder Ramalinga Raju said its profits had been overstated and assets falsified in a fraud allegedly worth over $1.5 billion. (Reporting by Devidutta Tripathy; Editing by Jui Chakravorty)

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