Next Satyam board meet on 5 Feb

Next Satyam board meet on 5 Feb
PTI
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First Published: Fri, Jan 30 2009. 09 20 PM IST
Updated: Fri, Jan 30 2009. 09 20 PM IST
New Delhi: The board of the beleaguered Satyam Computer will meet again on 5 February.
The next board meeting is slated for 5 February, Kiran Karnik, a member of the Board said.
He, however declined to divulge the agenda of the next meeting. Sources said the board is likely to discuss the pending issues of appointment of CEO and CFO and the proposals of the suitors approaching the company.
Among the suitors, engineering major Larsen & Tourbo (L&T) has kept its cards close to its chest on the issue of management control in the Hyderabad-based firm saying it would go by the decision of the IT firm’s board.
“What is going to happen on Satyam will be decided by the Satyam board. Our action will depend on what the board decides. They will decide how they go forward,” L&T Board Member J.P. Nayak said on Friday amid reports that the engineering major has approached the government on taking over the management control of Satyam.
L&T has so far invested Rs650-670 crore in the company for acquiring 12% stake, L&T Executive vice-president (Finance) R. Shankar Raman said.
Besides, Software firm iGate has evinced interest in Satyam. B. K. Modi controlled Spice Group has already put in an expression of interest in the company.
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First Published: Fri, Jan 30 2009. 09 20 PM IST