New Satyam board to elect chairman shortly today
The government on Sunday nominated noted banker Deepak Parekh, IT expert Kiran Karnik and former SEBI member C Achuthan to Satyam Computer’s Board.
“We will meet tomorrow (MONDAY) at Hyderabad,” HDFC Chairman Deepak Parekh said.
Parekh along with Karnik, former Nasscom president, and Achutan was nominated to the board by the government in order to stabilise the fraud-devastated Satyam Computer Services.
Asked whether he would head the board, Parekh said, “Decision to this effect will be taken tomorrow when the board meets for the first time.”
The newly appointed board members would be reaching Hyderabad tonight, he added.
Earlier during the day, Corporate Affairs Minister Prem Chand Gupta said, “The board is expected to meet within 24 hours and decide (the) further course of action.”
According to the order of the Company Law Board, the reconstituted board of the IT major can have a maximum of 10 members.
12TH Jan’09
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