RPT-UPDATE 1-Mahindra Satyam says refund claims are untenable

(Repeats story issued late on Tuesday)

Nov 17 (Reuters) - Indian IT services firm Mahindra Satyam (SATY.BO: Quote, Profile, Research) (SAY.N: Quote, Profile, Research) said legal notices claiming a refund of 12.3 billion rupees ($265 million) by 37 companies are "legally untenable".

In June, the company had received notices from a clutch of companies claiming a refund of advance payments.

Mahindra Satyam (SATY.BO: Quote, Profile, Research), earlier known as Satyam Computer Services, was acquired by India's Tech Mahindra (TEML.BO: Quote, Profile, Research) in April after the firm was hit by India's biggest corporate fraud, which came to light in January.

Tech Mahindra, a unit of tractor and utility vehicle maker Mahindra & Mahindra (MAHM.BO: Quote, Profile, Research), owns about 43 percent of Mahindra Satyam.

American depositary receipts of the company were trading down a percent at $5.17 in morning trade on the New York Stock Exchange. (Reporting by Chakradhar Adusumilli in Bangalore; Editing by Anil D'Silva)