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New auditors for Satyam in 48 hours

The Government will soon appoint more directors on the board of Satyam Computer.

Written by Agencies | Hyderabad |
January 12, 2009 6:15:04 pm

The Government will soon appoint more directors on the board of Satyam Computer and the chairman will be elected by the full board,the company’s newly appointed director Deepak Parekh said.

After taking preliminary stock of the company that has been hit hard by the Rs 7,800-crore scam,the reconstituted board met for the first time and discussed various options to handle the immediate issues,including liquidity.

Briefing reporters shortly after the meeting of 3-member board,constituted by the government yesterday,Parekh said that the working capital issue needed an immediate attention,but it has not yet determined in the amount of the liquidity needed.

An independent auditing firm would be appointed within 48 hours,he said,while talking to reporters along with two other board members Kiran Karnik and C Ahuthan.

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