Mahindra Satyam sues former Board of Directors, Price Waterhouse

Mahindra Satyam on Monday filed a suit against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse, seeking damages for perpetrating fraud.

The information technology major filed the suit in a civil court in Hyderabad.

"The company filed a suit in the City Civil Court, Hyderabad, against the past Board of Directors, certain former employees and Price Waterhouse, the former statutory auditors, its affiliates and partners, seeking damages for inter-alia perpetrating fraud, breach of fiduciary responsibility, obligations and negligence in performance of duties," a filing from the company to the Bombay Stock Exchange read.

Satyam Computer Services was taken over by the Mahindra group in 2009 and was rechristened Mahindra Satyam, after its founder Ramalinga Raju admitted to Rs 14,000-crore accounting scam in early 2009.

With agency inputs