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Govt has no plans to sell Satyam, says minister

Govt has no plans to sell Satyam, says minister
PTI
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First Published: Wed, Jan 21 2009. 06 18 PM IST
Updated: Wed, Jan 21 2009. 06 18 PM IST
New Delhi: Government has said that it has no plans to sell Satyam and that it would rather see the beleaguered company stand on its feet than put it up for sale.
“Many corporate houses are interested in buying Satyam, but the Government has not taken any view on that. Now the board is in place. Now it is for the board to take a call on it,” Corporate Affairs Minister P.C. Gupta said adding: “But as far as the Government is concerned, there is no such thinking and no such move.”
“We sincerely wish that the company is brought back on its feet,” he said.
Satyam’s new director Tarun Das on Tuesday said that the company has been approached by potential buyers.
“All I can say, we have been approached by potential buyers,” he said.
Another board member Deepak Parekh said that the company has received nearly 40 applications for the post of CEO at Satyam and that the company was also concentrating on tying up funds to keep the company alive.
“We have a large set of receivables. So we are trying to request our clients to pay us the money. We have told the sales force to go on a massive move to recover the receivables earlier. So, we have resources to meet some payment for January,” he said.
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First Published: Wed, Jan 21 2009. 06 18 PM IST
More Topics: Government | Satyam | Company | Sale | Corporate houses |