Mahindra Satyam (formerly Satyam Computer Services) said the Andhra Pradesh High Court has directed it to convene a shareholders' meeting on June 8 to consider merger with Tech Mahindra.
"By an order made on April 18, 2012... the High Court has directed that a meeting of the Equity Shareholders of the Company be convened and held on June 08, 2012, for the purpose of considering...proposed Scheme of Amalgamation," MSat said.
Last week, competition watchdog CCI approved the proposed merger of Mahindra Satyam and other companies with Tech Mahindra, creating a $2.4 billion entity.
Tech Mahindra took over the scam-hit Satyam in April, 2009, and rebranded it as Mahindra Satyam. Founder-Chairman of Satyam, B Ramlinga Raju, had admitted to multi-crore accounting fraud at the firm in January 2009.
Boards of both the IT firms have approved the merger with swap ratio of 2:17, giving shareholders two Tech Mahindra shares for every 17 owned in Mahindra Satyam.