Govt disbands Satyam board; to appoint nominees

Govt disbands Satyam board; to appoint nominees
PTI
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First Published: Fri, Jan 09 2009. 11 06 PM IST
Updated: Fri, Jan 09 2009. 11 06 PM IST
New Delhi: The government on Friday disbanded the current board of troubled IT company Satyam and would nominate 10 directors to the board.
“The current board ceases to exist and there would not be any meeting tomorrow,” corporate affairs minister Prem Chand Gupta said.
“The Centre is considering appointment of suitable persons as directors of Satyam following interim permission by the Company Law Board,” he said.
The new board would meet in the next seven days.
The current board was left with only three members from the original nine.
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First Published: Fri, Jan 09 2009. 11 06 PM IST
More Topics: Satyam | Board | Government | Satyam Scandal | India |