Upaid Files Motion to Request Depositions of Top Satyam Executives in Connection with Maytas Transaction Asset-Stripping Attempt in Advance of Texas Trial Judgment

Further to the announcement issued yesterday, Upaid confirms it has filed the motion in Collin County, Texas district court requesting depositions from top Satyam executives. The full text of the motion is now available at: http://www.upaid.net/doclib/Collin_County_MotiontoCompelDepositions.pdf.

Upaid’s earlier press release announcement is available at: http://www.upaid.net/press_release_det.asp?art_id=5581&sec_id=2625.

About Upaid

Upaid is the mobile and online payments specialist. Applications range from the recharge of prepaid accounts via SMS, to electronic bill payment and presentment, to billing for mobile content. The Upaid platform supports a complete eco-system for mobile commerce, giving users the choice of an operator-driven or independent billing system.

Upaid holds a portfolio of over 1,000 granted patents in the arena of e- and m-commerce. We work with Brazil’s leading mobile operators and banks to enable recharge transactions, serving a user base of over 50 million consumers, processing 2 million transactions per month. Upaid holds the franchise for VISA Mobile Service in the CEMEA region. Upaid has offices in the US, UK, and Brazil. Upaid is a registered trademark of Upaid Systems, Ltd.

Contacts

Skywrite Communications
Cat Biggart
T +44 (0) 20 7608 4680
E upaid {at} skywritecomms(.)com