Mahindra Satyam on Thursday announced that Aberdeen Global and twenty-two other claimants have agreed to settle claims for alleged fraudulent misrepresentations by the company's tainted founder B Ramalinga Raju for $68-million (around Rs. 369.24 crore).

In a filing with the Bombay Stock Exchange (BSE), Mahindra Satyam said that it had signed a confidential agreement to settle claims brought in London's Commercial Court Aberdeen Global and a total of Twenty-two other funds managed by Aberdeen Asset Management or its subsidiaries.

The company said that the claimants had claimed that they had lost an estimated amount of $298,339,978 and suffered additional consequential losses. The statement added that the company fully disposed all those claims.

In the filing, the company said, "By virtue of the settlement, the claims have been fully and finally disposed of on the basis of, inter alia, a payment of $68 million."

Earlier in July this year, Mahindra Satyam had paid $12 million to other Aberdeen-affiliated former investors to settle their claims. A class action brought in the United States for other former investors in Satyam was settled in February last year.

Thus far, Mahindra Satyam has spent nearly $285 million on settling claims raised by various investors since the revenue scam by Ramalingam Raju was exposed.