Definitions
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Etymologies
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Examples
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Upaid, which is based out of British Virgin Islands, had filed a forgery and fraud case against Satyam and its erstwhile management headed by disgraced founder B Ramalinga Raju, claiming $1 billion in damages.
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Upaid, which is based out of British Virgin Islands, had filed a forgery and fraud case against Satyam and its erstwhile management headed by disgraced founder B Ramalinga Raju, claiming $1 billion in damages.
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Upaid had filed a suit in 2005 against Satyam after a failed patent application.
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"Our lawyers will be submitting a report on the liabilities arising from the Upaid and the other class action suits."
Spice Group Short Listed for Satyam Bidding Romit Guha 2009
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Upaid Chief Executive Simon Joyce had then said the damages could exceed $1 billion.
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Satyam Computer Services, had agreed last December to pay $70 million to Upaid in a patent suit settlement.
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Mahindra Satyam has settled its long-drawn legal case with Upaid for USD 70 million.
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Mahindra Satyam has settled its long-drawn legal case with Upaid for USD 70 million.
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In February, it had filed the lawsuit in New York against Upaid, which facilitates payments via mobile phones, seeking to declare the settlement pact between the companies valid and enforceable.
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The Supreme Court of New York denied a motion brought by Upaid that it was entitled to receive the full amount, and ruled it must co-operate with the escrow agent, IDBI Bank, to allow Mahindra Satyam to hold back any applicable taxes, the Indian company said in a notice to the stock exchange.
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