Tags:
Journalism of Courage
The board of fraud-hit Satyam Computer Services Ltd hopes to seek expression of interest from potential bidders by the end of this week,its chairman said on Tuesday.
8220;We hope to send something out by end of this week,8221; Kiran Karnik said in a phone interview,adding the board may need to take regulatory approval before doing so.
The government-appointed board of Satyam will meet at its headquarters in the southern city of Hyderabad on Thursday,he said.
Karnik said Satyam had lost three or four important clients since Jan 7 when its founder chairman resigned after disclosing that profits had been overstated for years at the New York-listed outsourcing firm in India8217;s biggest corporate scandal.
8220;In the last few weeks we have seen great stability but yes we have in the last six or seven weeks lost three or four important customers,8221; he said. 8220;Business looks good after the initial reaction which was somewhat panicky but understandable.8221;
