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Thursday, March 22, 2012

Tech Mahindra and Mahindra Satyam will merge

Mahindra Satyam, the erstwhile Satyam Computer Services Limited, will be merged into Tech Mahindra, of the Mahindra & Mahindra Group.

The deal was approved by the boards of the two companies today with an exchange ratio of two shares of Tech Mahindra (face value of Rs.10 each) for every 17 shares of the Mahindra Satyam (face value of Rs.2 each).

The merger is expected to create India's fifth largest software services exporter, with revenues of approximately US $2.4 billion, 75,000-odd workforce and over 350 active clients including some of Fortune Global 500 spread over 54 countries. The boards of the two companies approved a proposal for merger along with certain wholly owned subsidiaries.

U.N. rights body asks Sri Lanka to probe alleged war crimes

The United Nations’ top human rights body on today asked Sri Lanka to properly investigate alleged war crimes committed by both sides during the country’s 26-year conflict with the Tamil Tiger rebels.

The U.N. Human Rights Council approved a U.S.-backed resolution that urged the South Asian nation to probe allegations of summary executions, kidnappings and other abuses, but stopped short of calling for an international investigation.

Dada Saheb Phalke award for Soumitra Chatterjee

Soumitra Chatterjee

Dada Saheb Phalke award for the year 2011 will be awarded to Soumitra Chatterjee who is an iconic Bengali actor from India, known among other things for his frequent collaborations with the great Bengali film director Satyajit Ray and his constant comparison with the Bengali screen idol Uttam Kumar.

This award is the highest award for the contribution in the field of Cinema in India. This award is given in memory of Dadasaheb Phalke(Dhundiraj Govind Phalke) who was an Indian producer-director-screenwriter, known as the father of Indian cinema.