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Satyam's expanded board to meet today

January 17, 2009 11:16 IST

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The six member board of Satyam Computer Services [Get Quote] will meet on Saturday at its corporate office in Madhapur.

The second meeting of the new board is likely to elect a new chairman, who is expected to steer the company out of the mud created largely by the disgraced founder-chairman B Ramalinga Raju.

The board also may discuss about the financial situation of the company in the backdrop of Ram Mynampati's SoS to the corporate affairs ministry, couple of days ago.

The government had appointed Tarun Das, T N Manoharan and S Balkrishna Mainak, on Satyam's board that will join Deepak Parekh, Kiran Karnik and C Achuthan.

The board was given the tough task of protecting the interest of over 50,000 Satyam's employees and stakeholders following Raju's revelation of fudging accounts.

The board is yet to decide on the appointment of new CEO and CFO to bring back the company's operation to normalcy.

Although the board had appointed KPMG and Deloitte, ICAI had objected to the appointment of KPMG, since it is not the member of ICAI, which may also figure in the meeting.

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