New Delhi: Mahindra Satyam on Monday said a New York court has given a favourable judgment in its lawsuit against Upaid Systems and ruled that the British company is responsible for all the tax liability on the settlement amount of $70 million paid by the IT firm, reports PTI.
"The court adjudged and declared that the settlement agreement requires that Upaid must cooperate with the escrow agent (IDBI Bank) to allow the latter to withhold any applicable taxes from the $70 million settlement amount," Mahindra Satyam said in a statement.
Mahindra Satyam, earlier known as Satyam Computer Services, had filed a lawsuit in a New York court against Upaid, seeking enforcement of a legal settlement agreement between the two signed in December, 2009.
At issue is the tax liability on the settlement amount, which Satyam claims is Upaid's responsibility under the agreement.
In the lawsuit, Satyam had asked the court to confirm that Upaid is responsible for any tax liability arising from the settlement.
In December, 2009, Satyam agreed to pay $70 million to settle all outstanding legal disputes with Upaid.
As part of the December agreement, Satyam entered into an escrow agreement with Upaid and deposited the settlement amount of $70 million into an escrow account.
Mumbai: Nearly 100 containers that fell into the waters following the collision between two merchant vessels off the Mumbai coast, earlier this month, are still missing and two of them are carrying hazardous chemicals, reports PTI.
"The salvage operation is underway. About 100 out of the total 250 containers are yet to be traced from the waters," Rahul Asthana, chairman of Mumbai Port Trust, told PTI.
Two of the missing containers are carrying hazardous chemicals and efforts are on to locate and retrieve them, he said.
Two merchant vessels-MSC Chitra and Khalijia-III-collided off the Mumbai coast on 7th August causing an oil spill. Several containers from one of the vessels fell into the sea.
While the motive behind the idea of home education is noble, the commercials are extremely boring and unwatchable
So, Tata Sky has decided to diversify into the education sector. No, they aren't opening up schools and colleges in the country (the politicians are the ones who are allowed to 'pioneer' those these days), but they promise to bring education into your own homes. With their 'private tutorial' classes on the idiot box. The packages are interactive and called Actve Wizkids, Actve Stories, Actve Learning and Actve English. Clearly targeted at the kids, but also focussing on housewives who would like to brush up on their angrezi when the husband is away at work (or whatever else).
Tata Sky has launched a set of new television commercials to promote these packages. The first one features their highly educated (and highly paid) brand ambassador Aamir Khan. And he preaches, while fooling around with his squash racket, about how classrooms are changing in this country. And that now there's no need for benches, desks, classrooms, pin-drop silences, etc. The other ad features a bahu who proudly declares her dear saas will now learn English at home (bad news for Ekta Kapoor… who'll torment the bahu now?). And then the naughty kids have their say on their new 'classrooms'. All are happy that there shall be no corporal punishment anymore (well, not in so many words).
While the motive behind the idea of home education is noble, the commercials are extremely boring and unwatchable. Quite shocking, that this sort of drivel is coming from a brand that otherwise dishes out pretty witty and funny ads for its entertainment packages. I think all the suits on the client's and the agency's side pulled up their ties because the subject is education, and decided that it's safe to get serious and preachy. Bad idea, that. They forgot the age-old adage: TV commercials must never bore viewers, whatever be the subject in question. Because you don't just compete with other ads for viewer attention, you also have to battle TV programming, toilet breaks, family conversations, Twitter, Facebook and other numerous distractions.
And surely there's a creative way to make education fun. In fact, given that their proposition itself is that Tata Sky makes learning fun, it's strange why they must make their communication so dull. Especially when they have the creative Aamir Khan on their payroll.
Perhaps Aamirbhai was having a really bad hair day? Born entertainer that he is, it's unbelievable that he would have missed boredom when he read the script.