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ShareHyderabad: The New York Stock Exchange (NYSE) has warned Mahindra Satyam, the new avatar of the fraud-hit Satyam Computer Services, for not filing its annual report on time.
The bourse has threatened to delist the company's American depositary shares in case of non-compliance.
With Mahindra Satyam failing to file its annual report on Form 20-F, it would be included in the "late filers list" for now and the exchange's web pages showing details of Satyam will carry the 'LF' indicator.
The NYSE also informed the company that the bourse's authorities will closely monitor the status of the company's late filings and related public disclosure for an initial period of six months from the original due date.
The company was to file its report by October 15.
The NYSE has also informed the company that it would take up delisting during the period that is available for completion of formalities if circumstances so warrant.
Meanwhile, the Company Law Board (CLB) has extended the time for the company to file all statutory documents till June 30, 2010.
The documents that the company would have file include financial statements for financial years 2008 and 2009 and the quarterly reports to be filed with the exchanges under listing agreements.
While authorising Mahindra Satyam to appoint a statutory auditor, the CLB has also permitted it to make adjustments for any omissions or misstatements caused in the earlier financial years in the financial statement for 2008-09.
The company would also present the financial statements for 2008-09 and 2009-10 in a single AGM as per the CLB order.
