IT major Tech Mahindra, which needs to pay Rs.1,756 crore for acquiring 31 percent stake in the troubled IT firm Satyam Computer Services, Saturday said it has raised Rs.600 crore through debt instrument.The government-appointed board of Satyam Monday named Venturbay - a subsidiary of Tech Mahindra - as the winner of the auction to sell a majority stake in the fraud-hit IT giant.Under the share subscription agreement signed by the winning bidder and the board, Tech Mahindra will have to deposit the bid amount in an escrow account by April 21.

No US, No worry. That has been the mantra of Rajasthan, India. In Rajasthan, the Business Process Outsourcing (BPO) companies dealing in domestic market have not been affected by the economic slowdown so far.Most of the domestic BPO companies here are dealing in telecom, power, banking, financial and government sectors. According to the market players, these sectors have not been affected by the ongoing recessionary trends, which is why there is enough buoyancy in local BPO market.

Though the financial sector has started showing some signs of recovery from the global meltdown, the IT industry in the country will take some more time to regain the growth momentum, a top industry official said here saturday. 'The crisis started in the financial sector and recovery also seems to be happening first in that sector,' S. Gopalakrishnan, deputy chairman, Confederation of Indian Industry (CII)-southern region, told reporters here Saturday.

LONDON - A pub landlady is all set to make a 'Royal' deal by auctioning Camilla's throne - a toilet seat used by the Duchess of Cornwall - on eBay.