‘It’s Tech Mahindra’s job to run Satyam’

‘It’s Tech Mahindra’s job to run Satyam’
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First Published: Mon, Jun 08 2009. 10 43 PM IST
Updated: Mon, Jun 08 2009. 10 43 PM IST
New Delhi: The Union government may soon do away with representation on the board of fraud-hit Satyam Computer Services Ltd. Salman Khursheed, corporate affairs minister, has said it is “very unlikely” that the government will re-appoint its nominees on Satyam’s board.
“It is neither necessary nor advisable to have such representation any more, as the company should now move on to the next phase of its existence, which entails passing on the control to Tech Mahindra Ltd,” Khursheed said, speaking exclusively to CNBC-TV18.
The six government nominees on Satyam’s board had expressed their desire to be relieved of their responsibilities.
Commenting on the status of the prosecution in the Satyam case, the minister said the inputs provided by the Serious Fraud Investigation Office (SFIO) had been passed on to the Central Bureau Of Investigation (CBI). “The CBI will file an additional charge-sheet on (the) basis of these findings. Meanwhile, SFIO will explore the violations of (the) Companies Act,” he said.
Speaking on the issue of reservation in private jobs, the minister expressed the need to bring the corporate sector “closer” to the common man. “Many ministries have shown interest in reservation of jobs in (the) private sector. This can only be taken forward with dialogue between various stakeholders. Guidance will have to be taken from the PMO (Prime Minister’s Office) and the Prime Minister himself on this,” he said.
cnbctv18@livemint.com
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First Published: Mon, Jun 08 2009. 10 43 PM IST