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This is an archive article published on March 13, 2009

Satyam board meets to evaluate EoIs

The Satyam board met on Friday to discuss the expressions of interest submitted by bidders.

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The Satyam board met on Friday to discuss the expressions of interest submitted by bidders,which includes one of its shareholders Larsen amp; Toubro,software firm Tech Mahindra and B K Modi8217;s Spice Corp.

A company official said the board meeting started at 9:30 am.

Satyam closed registrations on Thursday for potential bidders as it began a process to sell 51 per cent stake in the company,which is caught in the country8217;s biggest corporate scandal.

The board will make the financial and legal data available to those short-listed companies who will qualify in the EoI criteria. The deadline for submitting the bid and proof of adequate funds is March 20.

 

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