NEW DELHI, Jan 24: India’s biggest engineering company Larsen and Toubrou has almost tripled its stake in fraud-hit Satyam Computer Services to 12 per cent, edging closer to a possible takeover bid.

The company, now Satyam’s largest single shareholder, told the Bombay Stock Exchange on Friday it had raised its holding in India’s fourth-largest outsourcing company to 12pc from 4.48pc.

If Larsen hikes its stake further, India’s takeover rules dictate that it would be obliged to make a full-scale offer for the company, which is at the centre of India’s biggest fraud scandal. —AFP