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According to sources, Larsen & Toubro Ltd has asked permission from market regulators for selling off its stake in Mahindra Satyam Ltd.
L&T, operating in industries as diverse as engineering, shipbuilding and software, has requested the permission as an "enabling arrangement" but it does not have a deadline for selling its holding.
Mumbai-based L&T had developed a 12% stake in Mahindra Satyam, earlier known as Satyam Computer Services Ltd, before the sale of the company.
In April, L&T has lost out for having a control in the stake in the fraud-hit outsourcer, which was eventually bought by Tech Mahindra Ltd.
In June, Satyam had released financial figures for the first time since the revelation of the fraud, ahead of the launch of an open offer by Tech Mahindra.
"We are asking for a concession since the information that was made available to us as a bidder is public now," the L&T spokesman said.
But L&T does not have plans to sell off the stake immediately if the restriction was lifted, but would consider various issues including market conditions before deciding.
