Mahindra Satyam is reportedly on the verge of finalising a deal to payback an undisclosed sum to the Victorian government following the collapse of a million IT project in Geelong.
According to The Australian newspaper, Satyam pledged to repay the funds given to the company by the Victorian government to lure it to Geelong after the scheme, which would have created 2000 jobs and contributed 5m to the state`s economy, was canned in September as the IT firm struggled with the global financial crisis.
While no details have been disclosed on the amounts, the newspaper said it has been confirmed the funds will soon be returned to the state`s coffers.
| NIFTY 
