India's Satyam Computer Services board member Deepak Parekh (R) speaks to Chairman Kiran Karnik during a news conference held by Satyam board members in Mumbai April 13, 2009
India's Satyam Computer Services board member Deepak Parekh (R) speaks to Chairman Kiran Karnik during a news conference held by Satyam board members in Mumbai April 13, 2009 REUTERS

Mahindra Satyam has put on hold its planned merger with new parent Tech Mahindra due to the ongoing probe into the Satyam accounting fraud, Chief Executive C.P. Gurnani said on Monday.

Satyam Computer, which was bought by Tech Mahindra and renamed Mahindra Satyam, stunned investors in 2009 when its former chairman and founder Ramalinga Raju said profits had been overstated and assets falsified in a fraud allegedly worth more tthan $1.5 billion.

India's federal crime bureau has been investigating the case.

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