Satyam board to meet today

Satyam board to meet today
PTI
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First Published: Thu, Jan 22 2009. 11 24 AM IST
Updated: Thu, Jan 22 2009. 11 24 AM IST
Hyderabad: The six-member board of Satyam Computer Services will hold its crucial meeting here on Thursday, to discuss among other things issues concerning mobilisation of finances and a strategy to hold major clients.
The third meeting in a row, the board will also consider appointment of chief executive officer and chief financial officer -- the two key posts needed to revive the company.
The government had appointed Tarun Das, T N Manoharan and S Balkrishna Mainak, on Satyam’s board, which already had Deepak Parekh, Kiran Karnik and C Achuthan.
After its last meeting on 17 January, the board of troubled Satyam had said that it was looking for funds, for which it had opened a dialogue with lenders, to ensure salaries to employees and normal business operations, even as the search for a new CEO and CFO continued.
Representatives of a few lenders, including Citibank and ICICI Bank, had visited the Satyam headquarters, presumably for discussions with the new leadership of the IT company.
The second board meeting also constituted an audit panel and had appointed legal advisors -- Amarchand & Mangaldas, Suresh A Shroff & Co -- to the board, and internal auditors -- Brahmayya & Co.
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First Published: Thu, Jan 22 2009. 11 24 AM IST