New Satyam Board looks for funds

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Hyderabad Jan 12: In a bid to save the sinking Satyam Computers, the Central Government on Sunday, Jan 11 appointed three independent directors on the board for Satyam Computers.

Newly formed board members HDFC Chairman, Deepak Parekh, IT expert and former NASSCOM chairman, Kiran Karnik and former SEBI member, C Achutan addressed a press conference in Hyderabad on Jan 12.

Answering the queries to journalists, Parekh, Karnik and C Achutan deliberated on the following points.

Our first priority is to restore confidence

We will ensure business continuity

We are in the process of appointing an independent accounting firm in 48 hours

Board will appoint new chairman, CEO, CFO and more board members

We are still checking the veracity of the numbers

New auditors to will confirm the veracity of statements.

5.46 PM

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Associates have show tremendous resilience.

Raising fund is our top priority.

We have no plans to talk to Raju.

No bank will give us credit without authentic numbers.

5.58 PM

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Ram Mynampati is no longer interim CEO

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Board has access to probe findings

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Not sought immunity from lawsuits

New Board will not run Satyam on day to day basis.

6.08 PM

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We will ask for Q3 result extension 

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We are called Special Directors

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No conflict of interest as appointed by govt

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Satyam incident an unfortunate incident.

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Parekh also asked journalists to give some space for the Board to work on the case and urged them not to disturb them often.

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OneIndia News (With inputs from Agencies)

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