We need Rs 150 crore urgently: Satyam

Posted By: Staff
Subscribe to Oneindia News

New Delhi, Jan 15: Satyam urgently needs Rs 150 crore to meet insurance liabilities of its US employees, informed Satyam's senior management executive Ram Mynampati to Government.

"We have received a mail or two from Mynampati. They indicated that they would need something of the order of Rs 150 crore to take care of the health insurance liabilities of the employees in the US," economic affairs secretary Ashok Chawla told reporters, on Thursday, Jan 15.

Mynampati has gone to United States to speak with his clients and to reassure them to continue services with them. There is no immediate plan for a govt bailout package for Satyam, although Commerce and Industry Minister Kamal Nath had suggested that the govt was willing to extend financial support to the company, Chawla said.

New board members may get in touch with ministry of corporate affairs to seek Rs 150 crore assistance, Chawla opined. During a press conference, new board members had deliberated that funds for Satyam are the top priority now.

OneIndia News (With inputs from Agencies)

Please Wait while comments are loading...