On December 7, 2012, Syntel, Inc. (the "Company") entered into a note modification agreement with JPMorgan Chase Bank, N.A. which increased its line of credit from $20 million to $50 million and changed the Principal Payment Date from August 31, 2013 to December 31, 2013. In connection with the increased line of credit, the Company also executed a related continuing security agreement granting a security interest in the U.S. assets of the Company and two of its U.S. subsidiaries, SkillBay LLC and Syntel Consulting Inc.

On December 7, 2012, Syntel, Inc. (the "Company") issued a press release announcing the declaration by the Board of Directors of a special cash dividend of $2.25 per share, payable on December 28, 2012, to shareholders of record at the close of business on December 18, 2012. In addition, the Company announced that it declared a regular quarterly dividend of six cents $0.06 per share, payable on December 28, 2012, to shareholders of record at the close of business on December 18, 2012. The Company also announced that it is discontinuing all future regular quarterly dividends. A copy of the press release is attached to this Report as Exhibit 99.1.

The information contained in this Item 8.01 of this Current Report and in Exhibit 99.1 is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except if the Company expressly states that such information is to be considered "filed" under the Exchange Act or incorporates it by specific reference in such filing.

(d) Exhibits.

Exhibit
Number

10.1        Note Modification Agreement, dated December 7, 2012, between the Company
            and JPMorgan Chase Bank, N.A.

10.2        Continuing Security Agreement, dated December 7, 2012, between the
            Company and JPMorgan Chase Bank, N.A.

99.1        Press Release dated December 7, 2012.