Educomp Solutions ties up with Dell Foundation

Educomp Solutions has entered into a service agreement with a US based charitable foundation Michael & Susan Dell Foundation, to create a model to transform learning levels of poor children served by private schools in Hyderabad for an investment of Rs 4.78 crore. The project named Gyanashakti will help in significantly improving the learning levels … Read more Educomp Solutions ties up with Dell Foundation

Citibank starts freezing Satyam’s Accounts

Our reporters have confirmed that, Citibank has frozen more than 30 trade receivable accounts of Satyam Computer Services Ltd, following erstwhile chairman B Ramalinga Raju’s startling admission of fraud as the bank aims to protect the bank’s $70-million exposure to the troubled IT major. This will directly hurt the daily operations of Satyam Computers. Citibank … Read more Citibank starts freezing Satyam’s Accounts

Punj Lloyd starts adjudication proceedings against SABIC

Punj Lloyd’s wholly-owned UK subsidiary, Simon Carves (SCL), has commenced adjudication proceedings against UK-based SABIC Petrochemicals. These proceedings are ultimately aimed at seeking restitution, through the UK Courts, of 28 million pounds sterling in respect of an advance payment bond and a performance bond called by SABIC following in SCL’s view, the wrongful termination by … Read more Punj Lloyd starts adjudication proceedings against SABIC