Satyam to pay February salaries: Karnik

Satyam will be able to pay employee salaries for Feb and will get bank loans in next few days.

Written by Reuters | Mumbai | Published: February 11, 2009 4:05:52 pm

Fraud-hit Satyam Computer Services will be able to pay employee salaries for February and will get bank loans in the next few days,its chairman said on Wednesday.

Kiran Karnik also told reporters there was greater comfort and stability among Satyam’s clients after their initial reactions to the revelations of fraud at the outsourcing firm.

“Obviously there are questions about the long-term future of the company and we are interacting with them on this,” Karnik said.

He said Satyam had been approached by many suitors,but a formal process was yet to begin.

“We have not formally invited any kind of application from any suitor,” he said.

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