'Bidding process for Satyam to begin soon'

Posted By: Staff
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Hyderabad, Mar 6: Satyam company board member Deepak Parekh said on Friday, Mar 6 that the global bidding process for the stake sale in sinking Satyam Computers will begin shortly.

The company also received market regulator SEBI's approval to sell 51 per cent of the stake through a global bidding process.

"The bidding process will begin shortly," Parekh told reporters here after meeting Corporate Affairs Minister P C Gupta.

Parekh, along with Satyam Chairman Kiran Karnik and board member Tarun Das, met the minister on Friday, Mar 6.

Meanwhile, Gupta said the bidding process is being done on a 'war footing". A retired Supreme Court judge would be overseeing the whole process, which would ensure that it is done in a transparent manner.

OneIndia News

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