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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2"><B>As filed with the Securities and
Exchange Commission on November&nbsp;20, 2002</B></FONT>

<P align="right"><FONT size="2"><B>Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT>

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<P align="center"><FONT size="5"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT>

<DIV align="center"><FONT size="2"><B>WASHINGTON, D.C. 20549</B></FONT></DIV>

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<P align="center"><FONT size="5"><B>FORM S-8</B></FONT>

<DIV align="center"><FONT size="2"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT></DIV>

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<P align="center"><FONT size="5"><B>SATYAM INFOWAY LIMITED</B></FONT>

<DIV align="center"><FONT size="2"><B>(Exact Name of Registrant as Specified in Its Charter)</B></FONT></DIV>

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        <TD width="5%">&nbsp;</TD>
        <TD width="44%">&nbsp;</TD>
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        <TD align="center" valign="top"><FONT size="2"><B>Republic of India</B><BR>
(State or Other Jurisdiction of<BR>
Incorporation or Organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>Not Applicable</B><BR>
(IRS Employer<BR>
Identification Number)</FONT></TD>
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<P align="center"><FONT size="2"><B>Second Floor, Tidel Park<BR>
No.&nbsp;4, Canal Bank Road, Taramani<BR>
Chennai 600 113, India<BR>
(91)&nbsp;44-254-0770</B><BR>
(Address of Principal Executive Offices)</FONT>

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<P align="center"><FONT size="2"><B>SATYAM INFOWAY LIMITED<BR>
ASSOCIATE STOCK OPTION PLAN 1999<BR>
ASSOCIATE STOCK OPTION PLAN 2000</B><BR>
(Full Title of the Plan)</FONT>

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<P align="center"><FONT size="2"><B>CT CORPORATION SYSTEM<BR>
111 8th Avenue<BR>
New York, New York 10011<BR>
(212)&nbsp;894-8940</B></FONT>

<P align="center"><FONT size="2"><B><I>Copy to:</I></B><BR>
<B>Anthony J. Richmond, Esq.<BR>
Latham &#038; Watkins<BR>
135 Commonwealth Drive<BR>
Menlo Park, California 94025<BR>
(650)&nbsp;328-4600</B><BR>
(Name and Address, Including Zip Code, and Telephone Number,<BR>
Including Area Code, of Agent for Service)</FONT>

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<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

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        <TD width="3%">&nbsp;</TD>
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        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
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        <TD colspan="17"><HR size="4" noshade></TD>
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<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="left"><FONT size="1"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title of Securities to be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Per Share (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price (2)(3)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
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        <TD colspan="17"><HR size="1" noshade></TD>
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<TR valign="bottom">
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Equity shares, par value Rs. 10 per share</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,200,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">1.81</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">2,172,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">200</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This registration statement shall also cover any additional Equity Shares
which become issuable under the Satyam Infoway Limited Associate Stock
Option Plan 1999 and Associate Stock Option Plan 2000 by reason of any stock dividend, stock split,
recapitalization or other similar transaction effected without the receipt
of consideration which results in an increase in the number of the
outstanding Equity Shares.</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee,
based on the average of the high and low prices of the American Depositary
Shares as reported on the Nasdaq National Stock Market on
November&nbsp;19, 2002
in accordance with Rule&nbsp;457(c) promulgated under the Securities Act of
1933, as amended.</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">American Depositary Shares, each representing one Equity Share, issuable
upon deposit of Equity Shares, have been registered on a separate
Registration Statement on Form&nbsp;F-6 (File No.&nbsp;333-10982), as amended.</FONT></TD>
</TR>
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<P align="center"><FONT size="2"><B>Proposed sale to take place as soon after the effective date of the Registration<BR>
Statement as shares are issued pursuant to the terms of the Plans.</B></FONT>

<P align="center"><FONT size="2">&nbsp;
</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;5. Interests of Named Experts and Counsel</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;8. Exhibits</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;9. Undertakings</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="f85443exv4w5.txt">EXHIBIT 4.5</A></TD></TR>
<TR><TD colspan="9"><A HREF="f85443exv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="f85443exv10w2.txt">EXHIBIT 10.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="f85443exv23w2.txt">EXHIBIT 23.2</A></TD></TR>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information called for in Part I of the Form&nbsp;S-8 is not being filed
with or included in this Registration Statement on Form&nbsp;S-8 (the &#147;Registration
Statement&#148;) (by incorporation by reference or otherwise) in accordance with the
rules and regulations of the Securities and Exchange Commission (the
&#147;Commission&#148;).
</FONT>
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<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

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<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by the Registrant are
incorporated as of their respective dates in this Registration Statement on
Form&nbsp;S-8 by reference:
</FONT>
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<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Registrant&#146;s Annual Report on Form&nbsp;20-F, filed with the
Commission on July&nbsp;1, 2002.</FONT></TD>
</TR>
</TABLE>
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<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on November&nbsp;15, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on October&nbsp;25, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on October&nbsp;10, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on August&nbsp;12, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on July&nbsp;17, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on June&nbsp;13, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on May&nbsp;14, 2002.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Registrant&#146;s Report of Foreign Issuer on Form&nbsp;6-K, filed with
the Commission on April&nbsp;25, 2002.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange
Act&#148;) after the date of this Registration Statement and prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, are
incorporated by reference in this Registration Statement and are a part hereof
from the date of filing such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other
</FONT>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<P><FONT size="2">subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
</FONT>
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<DIV align="left"><A NAME="003"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has obtained directors and officers insurance providing
indemnification for a number of its directors, officers, affiliates, partners
or employees for specified errors and omissions.
</FONT>
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<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption from Registration Claimed</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
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<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a list of exhibits filed as part of this Registration
Statement, which are incorporated herein:
</FONT>
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<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="94%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Share Subscription and Shareholders&#146; Agreement, dated as of
February&nbsp;5, 1999, by and among Satyam Infoway Limited, Satyam
Computer Services Limited, South Asia Regional Fund and Mr.&nbsp;B.
Ramalinga Raju. (Previously filed as an exhibit to Amendment No.&nbsp;1
to the Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-10852) filed
with the Commission on October&nbsp;4, 1999 and incorporated herein by
reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to Share Subscription and Shareholders&#146;
Agreement, dated as of September&nbsp;14, 1999, by and among Satyam
Infoway Limited, Satyam Computer Services Limited, South Asia
Regional Fund and Mr.&nbsp;B. Ramalinga Raju. (Previously filed as an
exhibit to Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;F-1
(File No.&nbsp;333-10852) filed with the Commission on October&nbsp;4, 1999
and incorporated herein by reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Deposit Agreement, dated as of October&nbsp;18, 1999, among Satyam
Infoway Limited, Citibank, N.A. and holders from time to time of
American Depositary Receipts issued thereunder (including as an
exhibit, the form of American Depositary Receipt). (Previously filed
as an exhibit to the Registration Statement on Form&nbsp;F-1 (File No.
333-96111) filed with the Commission on February&nbsp;1, 2000 and
incorporated herein by reference.)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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        <TD width="4%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="94%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to the Deposit Agreement. (Previously filed
as an exhibit to Registration Statement on Form&nbsp;F-1 (File No.
333-96111) filed with the Commission on February&nbsp;1, 2000 and
incorporated herein by reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;2 to the Deposit Agreement</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Letter Agreement, dated as of September&nbsp;14, 1999, by and
between Satyam Infoway Limited and Sterling Commerce, Inc.
(Previously filed as an exhibit to Amendment No.&nbsp;1 to the
Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-10852) filed with
the Commission on October&nbsp;4, 1999 and incorporated herein by
reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Stockholders Agreement, dated as of September&nbsp;14, 1999, by
and among Satyam Infoway Limited, Sterling Commerce, Inc. and Satyam
Computer Services Limited. (Previously filed as an exhibit to
Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;F-1 (File No.
333-10852) filed with the Commission on October&nbsp;4, 1999 and
incorporated herein by reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.8</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Registration Rights Agreement, dated as of September&nbsp;14,
1999, by and among Satyam Infoway Limited, Sterling Commerce, Inc.
and South Asia Regional Fund (Previously filed as an exhibit to
Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;F-1 (File No.
333-10852) filed with the Commission on October&nbsp;4, 1999 and
incorporated herein by reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.9</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Investor Rights Agreement, dated as of October&nbsp;7, 2002, by
and among Satyam Computer Services Limited, SAIF Investment Company,
Venture Tech Solutions Pvt. Ltd. and Satyam Computer Services, Inc.
(Previously filed as an exhibit to the Report on Form&nbsp;6-K filed with
the Commission on October&nbsp;25, 2002 and incorporated herein by
reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.10</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Registration Rights Agreement, dated as of October&nbsp;7, 2002,
by and between Satyam Infoway Limited and SAIF Investment Company
(Previously filed as an exhibit to the Report on Form&nbsp;6-K filed with
the Commission on October&nbsp;25, 2002 and incorporated herein by
reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of M.G. Ramachandran</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Associate Stock Option Plan 1999 (including Deed of Trust)
(previously filed as an exhibit to Amendment No.&nbsp;2 to the
Registration Statement on Form&nbsp;F-1 (file no. 333-96111) filed with
the Commissioner on October&nbsp;13, 1999.)</FONT></TD>
</TR>






<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Associate Stock Option Plan 2000</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of M.G. Ramachandran (included in Exhibit&nbsp;5.1)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of KPMG, India, Independent auditors</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (included on the signature page of this
Registration Statement)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link2 "Item&nbsp;9. Undertakings" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:
</FONT>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule&nbsp;424(b) if, in the aggregate, the changes in volume and
price represent no more than 20&nbsp;percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective registration statement;</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;</FONT></TD>
</TR>
<TR>
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2"><I>provided, however</I>, that paragraphs (1)(i) and (1)(ii) shall not apply if the
Registration Statement is on Form&nbsp;S-3, Form&nbsp;S-8 or Form&nbsp;F-3 and the
information to be included in a post-effective amendment to those paragraphs
is contained in periodic reports filed with or furnished to the Commission
by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange
Act that are incorporated by reference in this Registration Statement.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for purposes of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a
new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.</FONT></TD>
</TR>
</TABLE>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="1%" nowrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
        <TD width="99%"></TD>
</TR>
<TR valign="top">
        <TD nowrap><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;To file a post-effective amendment to the registration statement to
include any financial statements required by Rule&nbsp;3-19 of this chapter at
the start of any delayed offering or throughout a continuous offering.
Financial statements and information otherwise required by Section&nbsp;10(a)(3)
of the Act need not be furnished, <I>provided, </I>that the registrant includes in
the prospectus, by means of a post-effective amendment, financial statements
required pursuant to this paragraph (a)(4) and other information necessary
to ensure that all other information in the prospectus is at least as
current as the date of those financial statements. Notwithstanding the
foregoing, with respect to registration statements on Form&nbsp;F-3, a
post-effective amendment need not be filed to include financial statements
and information required by Section&nbsp;10(a)(3) of the Act or Rule&nbsp;3-19 of this
chapter if such</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P><FONT size="2">financial statements and information are contained in periodic reports
filed with or furnished to the Commission by the registrant pursuant to
Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by
reference in the Form&nbsp;F-3.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to
be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the
Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the
final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act, the Company certifies
that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form&nbsp;S-8 and has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Chennai, State of Tamil Nadu, Country of India, on this 19th day
of November,
2002.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="46%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
        <TD colspan="2" align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
<B>SATYAM INFOWAY LIMITED</B></FONT></DIV></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">By:</FONT></DIV></TD>

        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
/s/ R. Ramaraj</FONT></DIV></TD>
</TR>
<TR>
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2"></FONT></DIV></TD>
        <TD><FONT size="2"></FONT></TD>
        <TD align="left" valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">
<HR size="1" noshade></FONT></DIV></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
        <TD><FONT size="2"></FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Name:&nbsp;&nbsp;&nbsp;R. Ramaraj<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints R.
Ramaraj and T.R. Santhanakrishnan, and each of them, as attorney-in-fact with
the power of substitution, for him or her in any and all capacities, to sign
any amendment to this registration statement (including post-effective
amendments and registration statements filed pursuant to Rule&nbsp;462 and
otherwise), and to file the same, with exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, granting to
said attorneys-in-fact, and each of them individually, full power and authority
to do and perform each and every act and thing requisite and necessary to be
done in connection therewith, as fully to all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or each of them individually, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended,
this registration statement has been signed by the following persons in the
capacities indicated on the dates indicated:
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="33%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="42%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Signature</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Title</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Date</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ R. Ramaraj
<HR size="1" noshade>
R. Ramaraj</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chief Executive Officer and Director
(Principal Executive Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top" nowrap><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ T.R. Santhanakrishnan
<HR size="1" noshade>
T.R. Santhanakrishnan</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chief Financial Officer (Principal
Financial and Accounting Officer)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="33%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="42%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1">Signature</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Title</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1">Date</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>


<TR>
        <TD valign="top"><FONT size="2">/s/ B. Ramalinga Raju
<HR size="1" noshade>
B. Ramalinga Raju</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top" nowrap><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR>
        <TD valign="top"><FONT size="2">/s/ T.H. Chowdary
<HR size="1" noshade>
T.H. Chowdary</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>


<TR>
        <TD valign="top"><FONT size="2">&nbsp;<BR>
<HR size="1" noshade>
Donald Peck</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR>
        <TD valign="top"><FONT size="2">/s/ C. Srinivasa Raju
<HR size="1" noshade>
C. Srinivasa Raju</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR>
        <TD valign="top"><FONT size="2">/s/ S. Srinivasan
<HR size="1" noshade>
S. Srinivasan</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">November&nbsp;19, 2002</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="010"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B></FONT>

<P align="left"><FONT size="2"><B>EXHIBIT</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="94%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Share Subscription and Shareholders&#146; Agreement, dated as of February&nbsp;5,
1999, by and among Satyam Infoway Limited, Satyam Computer Services
Limited, South Asia Regional Fund and Mr.&nbsp;B. Ramalinga Raju. (Previously
filed as an exhibit to Amendment No.&nbsp;1 to the Registration Statement on
Form&nbsp;F-1 (File No.&nbsp;333-10852) filed with the Commission on October&nbsp;4, 1999
and incorporated herein by reference.)</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to Share Subscription and Shareholders&#146; Agreement, dated
as of September&nbsp;14, 1999, by and among Satyam Infoway Limited, Satyam
Computer Services Limited, South Asia Regional Fund and Mr.&nbsp;B. Ramalinga
Raju. (Previously filed as an exhibit to Amendment No.&nbsp;1 to the
Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-10852) filed with the
Commission on October&nbsp;4, 1999 and incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Deposit Agreement, dated as of October&nbsp;18, 1999, among Satyam Infoway
Limited, Citibank, N.A. and holders from time to time of American
Depositary Receipts issued thereunder (including as an exhibit, the form
of American Depositary Receipt). (Previously filed as an exhibit to the
Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-96111) filed with the
Commission on February&nbsp;1, 2000 and incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;1 to the Deposit Agreement. (Previously filed as an
exhibit to Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-96111) filed
with the Commission on February&nbsp;1, 2000 and incorporated herein by
reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amendment No.&nbsp;2 to the Deposit Agreement</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.6</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Letter Agreement, dated as of September&nbsp;14, 1999, by and between Satyam
Infoway Limited and Sterling Commerce, Inc. (Previously filed as an
exhibit to Amendment No.&nbsp;1 to the Registration Statement on Form&nbsp;F-1 (File
No.&nbsp;333-10852) filed with the Commission on October&nbsp;4, 1999 and
incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.7</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Stockholders Agreement, dated as of September&nbsp;14, 1999, by and among
Satyam Infoway Limited, Sterling Commerce, Inc. and Satyam Computer
Services Limited. (Previously filed as an exhibit to Amendment No.&nbsp;1 to
the Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-10852) filed with the
Commission on October&nbsp;4, 1999 and incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.8</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Registration Rights Agreement, dated as of September&nbsp;14, 1999, by and
among Satyam Infoway Limited, Sterling Commerce, Inc. and South Asia
Regional Fund (Previously filed as an exhibit to Amendment No.&nbsp;1 to the
Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-10852) filed with the
Commission on October&nbsp;4, 1999 and incorporated herein by reference.)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="94%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.9</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Investor Rights Agreement, dated as of October&nbsp;7, 2002, by and among
Satyam Computer Services Limited, SAIF Investment Company, Venture Tech
Solutions Pvt. Ltd. and Satyam Computer Services, Inc. (Previously filed
as an exhibit to the Report on Form&nbsp;6-K filed with the Commission on
October&nbsp;28, 2002 and incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.10</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Registration Rights Agreement, dated as of October&nbsp;7, 2002, by and
between Satyam Infoway Limited and SAIF Investment Company (Previously
filed as an exhibit to the Report on Form&nbsp;6-K filed with the Commission on
October&nbsp;28, 2002 and incorporated herein by reference.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of M.G. Ramachandran</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Associate Stock Option Plan 1999 (including Deed of Trust) (previously filed
as an exhibit to Amendment No.&nbsp;2 to the Registration Statement on Form&nbsp;F-1
(file no. 333-96111) filed with the Commissioner on October&nbsp;13, 1999.)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>


<TR valign="bottom">
        <TD valign="top"><FONT size="2">10.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Associate Stock Option Plan 2000</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>



<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of M.G. Ramachandran (included in Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of KPMG, India, Independent auditors</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (included on the signature page of this Registration Statement)</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">&nbsp;</FONT>

</BODY>
</HTML>
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Satyam Infoway Limited
Table of Contents
As filed with the Securities and
Exchange Commission on November 20, 2002
Registration
No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
SATYAM INFOWAY LIMITED
(Exact Name of Registrant as Specified in Its Charter)
Republic of India
(State or Other Jurisdiction of
Incorporation or Organization)
Not Applicable
(IRS Employer
Identification Number)
Second Floor, Tidel Park
No. 4, Canal Bank Road, Taramani
Chennai 600 113, India
(91) 44-254-0770
(Address of Principal Executive Offices)
SATYAM INFOWAY LIMITED
ASSOCIATE STOCK OPTION PLAN 1999
ASSOCIATE STOCK OPTION PLAN 2000
(Full Title of the Plan)
CT CORPORATION SYSTEM
111 8th Avenue
New York, New York 10011
(212) 894-8940
Copy to:
Anthony J. Richmond, Esq.
Latham & Watkins
135 Commonwealth Drive
Menlo Park, California 94025
(650) 328-4600
(Name and Address, Including Zip Code, and Telephone Number,
Including Area Code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
Amount
Proposed Maximum
Proposed Maximum
to be
Offering Price
Aggregate Offering
Amount of
Title of Securities to be Registered
Registered(1)
Per Share (2)
Price (2)(3)
Registration Fee
Equity shares, par value Rs. 10 per share
1,200,000
$
1.81
$
2,172,000
$
200
(1)
This registration statement shall also cover any additional Equity Shares
which become issuable under the Satyam Infoway Limited Associate Stock
Option Plan 1999 and Associate Stock Option Plan 2000 by reason of any stock dividend, stock split,
recapitalization or other similar transaction effected without the receipt
of consideration which results in an increase in the number of the
outstanding Equity Shares.
(2)
Estimated solely for the purpose of calculating the registration fee,
based on the average of the high and low prices of the American Depositary
Shares as reported on the Nasdaq National Stock Market on
November 19, 2002
in accordance with Rule 457(c) promulgated under the Securities Act of
1933, as amended.
(3)
American Depositary Shares, each representing one Equity Share, issuable
upon deposit of Equity Shares, have been registered on a separate
Registration Statement on Form F-6 (File No. 333-10982), as amended.
Proposed sale to take place as soon after the effective date of the Registration
Statement as shares are issued pursuant to the terms of the Plans.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference
Item 4. Description of Securities
Item 5. Interests of Named Experts and Counsel
Item 6. Indemnification of Directors and Officers
Item 7. Exemption from Registration Claimed
Item 8. Exhibits
Item 9. Undertakings
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 4.5
EXHIBIT 5.1
EXHIBIT 10.2
EXHIBIT 23.2
Table of Contents
PART I
The information called for in Part I of the Form S-8 is not being filed
with or included in this Registration Statement on Form S-8 (the "Registration
Statement") (by incorporation by reference or otherwise) in accordance with the
rules and regulations of the Securities and Exchange Commission (the
"Commission").
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The following documents filed with the Commission by the Registrant are
incorporated as of their respective dates in this Registration Statement on
Form S-8 by reference:
(a) The Registrant's Annual Report on Form 20-F, filed with the
Commission on July 1, 2002.
(b) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on November 15, 2002.
(c) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on October 25, 2002.
(d) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on October 10, 2002.
(e) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on August 12, 2002.
(f) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on July 17, 2002.
(g) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on June 13, 2002.
(h) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on May 14, 2002.
(i) The Registrant's Report of Foreign Issuer on Form 6-K, filed with
the Commission on April 25, 2002.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act") after the date of this Registration Statement and prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, are
incorporated by reference in this Registration Statement and are a part hereof
from the date of filing such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed
to be modified or superseded for purposes of this Registration Statement to the
extent that a statement contained herein or in any other
Table of Contents
subsequently filed document which also is or is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or
superseded, to constitute a part of this Registration Statement.
Item 4. Description of Securities
Not applicable.
Item 5. Interests of Named Experts and Counsel
Not applicable.
Item 6. Indemnification of Directors and Officers
The Registrant has obtained directors and officers insurance providing
indemnification for a number of its directors, officers, affiliates, partners
or employees for specified errors and omissions.
Item 7. Exemption from Registration Claimed
Not applicable.
Item 8. Exhibits
The following is a list of exhibits filed as part of this Registration
Statement, which are incorporated herein:
4.1
Share Subscription and Shareholders' Agreement, dated as of
February 5, 1999, by and among Satyam Infoway Limited, Satyam
Computer Services Limited, South Asia Regional Fund and Mr. B.
Ramalinga Raju. (Previously filed as an exhibit to Amendment No. 1
to the Registration Statement on Form F-1 (File No. 333-10852) filed
with the Commission on October 4, 1999 and incorporated herein by
reference.)
4.2
Amendment No. 1 to Share Subscription and Shareholders'
Agreement, dated as of September 14, 1999, by and among Satyam
Infoway Limited, Satyam Computer Services Limited, South Asia
Regional Fund and Mr. B. Ramalinga Raju. (Previously filed as an
exhibit to Amendment No. 1 to the Registration Statement on Form F-1
(File No. 333-10852) filed with the Commission on October 4, 1999
and incorporated herein by reference.)
4.3
Deposit Agreement, dated as of October 18, 1999, among Satyam
Infoway Limited, Citibank, N.A. and holders from time to time of
American Depositary Receipts issued thereunder (including as an
exhibit, the form of American Depositary Receipt). (Previously filed
as an exhibit to the Registration Statement on Form F-1 (File No.
333-96111) filed with the Commission on February 1, 2000 and
incorporated herein by reference.)
Table of Contents
4.4
Amendment No. 1 to the Deposit Agreement. (Previously filed
as an exhibit to Registration Statement on Form F-1 (File No.
333-96111) filed with the Commission on February 1, 2000 and
incorporated herein by reference.)
4.5
Amendment No. 2 to the Deposit Agreement
4.6
Letter Agreement, dated as of September 14, 1999, by and
between Satyam Infoway Limited and Sterling Commerce, Inc.
(Previously filed as an exhibit to Amendment No. 1 to the
Registration Statement on Form F-1 (File No. 333-10852) filed with
the Commission on October 4, 1999 and incorporated herein by
reference.)
4.7
Stockholders Agreement, dated as of September 14, 1999, by
and among Satyam Infoway Limited, Sterling Commerce, Inc. and Satyam
Computer Services Limited. (Previously filed as an exhibit to
Amendment No. 1 to the Registration Statement on Form F-1 (File No.
333-10852) filed with the Commission on October 4, 1999 and
incorporated herein by reference.)
4.8
Registration Rights Agreement, dated as of September 14,
1999, by and among Satyam Infoway Limited, Sterling Commerce, Inc.
and South Asia Regional Fund (Previously filed as an exhibit to
Amendment No. 1 to the Registration Statement on Form F-1 (File No.
333-10852) filed with the Commission on October 4, 1999 and
incorporated herein by reference.)
4.9
Investor Rights Agreement, dated as of October 7, 2002, by
and among Satyam Computer Services Limited, SAIF Investment Company,
Venture Tech Solutions Pvt. Ltd. and Satyam Computer Services, Inc.
(Previously filed as an exhibit to the Report on Form 6-K filed with
the Commission on October 25, 2002 and incorporated herein by
reference.)
4.10
Registration Rights Agreement, dated as of October 7, 2002,
by and between Satyam Infoway Limited and SAIF Investment Company
(Previously filed as an exhibit to the Report on Form 6-K filed with
the Commission on October 25, 2002 and incorporated herein by
reference.)
5.1
Opinion of M.G. Ramachandran
10.1
Associate Stock Option Plan 1999 (including Deed of Trust)
(previously filed as an exhibit to Amendment No. 2 to the
Registration Statement on Form F-1 (file no. 333-96111) filed with
the Commissioner on October 13, 1999.)
10.2
Associate Stock Option Plan 2000
23.1
Consent of M.G. Ramachandran (included in Exhibit 5.1)
23.2
Consent of KPMG, India, Independent auditors
24.1
Power of Attorney (included on the signature page of this
Registration Statement)
Table of Contents
Item 9. Undertakings
The undersigned registrant hereby undertakes:
(1)  To file, during any period in which offers or sales are being made,
a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in
the effective registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however
, that paragraphs (1)(i) and (1)(ii) shall not apply if the
Registration Statement is on Form S-3, Form S-8 or Form F-3 and the
information to be included in a post-effective amendment to those paragraphs
is contained in periodic reports filed with or furnished to the Commission
by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in this Registration Statement.
(2) That, for purposes of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a
new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
(4) To file a post-effective amendment to the registration statement to
include any financial statements required by Rule 3-19 of this chapter at
the start of any delayed offering or throughout a continuous offering.
Financial statements and information otherwise required by Section 10(a)(3)
of the Act need not be furnished,
provided,
that the registrant includes in
the prospectus, by means of a post-effective amendment, financial statements
required pursuant to this paragraph (a)(4) and other information necessary
to ensure that all other information in the prospectus is at least as
current as the date of those financial statements. Notwithstanding the
foregoing, with respect to registration statements on Form F-3, a
post-effective amendment need not be filed to include financial statements
and information required by Section 10(a)(3) of the Act or Rule 3-19 of this
chapter if such
Table of Contents
financial statements and information are contained in periodic reports
filed with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in the Form F-3.
The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Exchange Act (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in this Registration Statement shall be deemed to
be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the
Registrant has been advised that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or
controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the
final adjudication of such issue.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act, the Company certifies
that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form S-8 and has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Chennai, State of Tamil Nadu, Country of India, on this 19th day
of November,
2002.
SATYAM INFOWAY LIMITED
By:
/s/ R. Ramaraj
Name:   R. Ramaraj
Title:     Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints R.
Ramaraj and T.R. Santhanakrishnan, and each of them, as attorney-in-fact with
the power of substitution, for him or her in any and all capacities, to sign
any amendment to this registration statement (including post-effective
amendments and registration statements filed pursuant to Rule 462 and
otherwise), and to file the same, with exhibits thereto and other documents in
connection therewith, with the Securities and Exchange Commission, granting to
said attorneys-in-fact, and each of them individually, full power and authority
to do and perform each and every act and thing requisite and necessary to be
done in connection therewith, as fully to all intents and purposes as he or she
might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact or each of them individually, or their substitute or
substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended,
this registration statement has been signed by the following persons in the
capacities indicated on the dates indicated:
Signature
Title
Date
/s/ R. Ramaraj
R. Ramaraj
Chief Executive Officer and Director
(Principal Executive Officer)
November 19, 2002
/s/ T.R. Santhanakrishnan
T.R. Santhanakrishnan
Chief Financial Officer (Principal
Financial and Accounting Officer)
November 19, 2002
Table of Contents
Signature
Title
Date
/s/ B. Ramalinga Raju
B. Ramalinga Raju
Director
November 19, 2002
/s/ T.H. Chowdary
T.H. Chowdary
Director
November 19, 2002
Donald Peck
Director
/s/ C. Srinivasa Raju
C. Srinivasa Raju
Director
November 19, 2002
/s/ S. Srinivasan
S. Srinivasan
Director
November 19, 2002
Table of Contents
INDEX TO EXHIBITS
EXHIBIT
4.1
Share Subscription and Shareholders' Agreement, dated as of February 5,
1999, by and among Satyam Infoway Limited, Satyam Computer Services
Limited, South Asia Regional Fund and Mr. B. Ramalinga Raju. (Previously
filed as an exhibit to Amendment No. 1 to the Registration Statement on
Form F-1 (File No. 333-10852) filed with the Commission on October 4, 1999
and incorporated herein by reference.)
4.2
Amendment No. 1 to Share Subscription and Shareholders' Agreement, dated
as of September 14, 1999, by and among Satyam Infoway Limited, Satyam
Computer Services Limited, South Asia Regional Fund and Mr. B. Ramalinga
Raju. (Previously filed as an exhibit to Amendment No. 1 to the
Registration Statement on Form F-1 (File No. 333-10852) filed with the
Commission on October 4, 1999 and incorporated herein by reference.)
4.3
Deposit Agreement, dated as of October 18, 1999, among Satyam Infoway
Limited, Citibank, N.A. and holders from time to time of American
Depositary Receipts issued thereunder (including as an exhibit, the form
of American Depositary Receipt). (Previously filed as an exhibit to the
Registration Statement on Form F-1 (File No. 333-96111) filed with the
Commission on February 1, 2000 and incorporated herein by reference.)
4.4
Amendment No. 1 to the Deposit Agreement. (Previously filed as an
exhibit to Registration Statement on Form F-1 (File No. 333-96111) filed
with the Commission on February 1, 2000 and incorporated herein by
reference.)
4.5
Amendment No. 2 to the Deposit Agreement
4.6
Letter Agreement, dated as of September 14, 1999, by and between Satyam
Infoway Limited and Sterling Commerce, Inc. (Previously filed as an
exhibit to Amendment No. 1 to the Registration Statement on Form F-1 (File
No. 333-10852) filed with the Commission on October 4, 1999 and
incorporated herein by reference.)
4.7
Stockholders Agreement, dated as of September 14, 1999, by and among
Satyam Infoway Limited, Sterling Commerce, Inc. and Satyam Computer
Services Limited. (Previously filed as an exhibit to Amendment No. 1 to
the Registration Statement on Form F-1 (File No. 333-10852) filed with the
Commission on October 4, 1999 and incorporated herein by reference.)
4.8
Registration Rights Agreement, dated as of September 14, 1999, by and
among Satyam Infoway Limited, Sterling Commerce, Inc. and South Asia
Regional Fund (Previously filed as an exhibit to Amendment No. 1 to the
Registration Statement on Form F-1 (File No. 333-10852) filed with the
Commission on October 4, 1999 and incorporated herein by reference.)
Table of Contents
4.9
Investor Rights Agreement, dated as of October 7, 2002, by and among
Satyam Computer Services Limited, SAIF Investment Company, Venture Tech
Solutions Pvt. Ltd. and Satyam Computer Services, Inc. (Previously filed
as an exhibit to the Report on Form 6-K filed with the Commission on
October 28, 2002 and incorporated herein by reference.)
4.10
Registration Rights Agreement, dated as of October 7, 2002, by and
between Satyam Infoway Limited and SAIF Investment Company (Previously
filed as an exhibit to the Report on Form 6-K filed with the Commission on
October 28, 2002 and incorporated herein by reference.)
5.1
Opinion of M.G. Ramachandran
10.1
Associate Stock Option Plan 1999 (including Deed of Trust) (previously filed
as an exhibit to Amendment No. 2 to the Registration Statement on Form F-1
(file no. 333-96111) filed with the Commissioner on October 13, 1999.)
10.2
Associate Stock Option Plan 2000
23.1
Consent of M.G. Ramachandran (included in Exhibit 5.1)
23.2
Consent of KPMG, India, Independent auditors
24.1
Power of Attorney (included on the signature page of this Registration Statement)