Satyam will be back on track in ten days: Karnik

Posted By: Staff
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Mumbai, Feb 12: The fraud hit Satyam Computers will be brought back on rails in the next ten days, said a top executive on Wednesday, Feb 11.

"We would chart out the road map in the next 7-10 days," Satyam Chairman Kiran Karnik told while answering a question on whether the Board would opt for an open offer or auction for the company.

The Government-appointed Satyam board will be meeting in Mumbai for another meeting on Thursday, Feb 12. "We will meet in Mumbai tomorrow at around 9.30 am and we are working on the venue," Karnik said.

Karnik refused to comment on the number of suitors for Satyam “since we have not yet formally invited any kind of applications. The road map will define what we tend to do," he said.

Asked whether Satyam would be sold entirely or in parts and whether there was any consensus on this, Karnik said “There is a thinking (on looking) at it as a whole entity and it is something appropriate to look at."

"There is a danger that any of the sensible businessmen who want to cherry-pick will take the good parts and the bad might be left and people will lose (their) jobs," he added.

"Our first preference will be looking at the company as a whole," Karnik said.

OneIndia News (With inputs from Agencies)

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