Representatives of four multinational banks met the newly-installed six-member board at Satyam Computer Services [Get Quote] on Thursday to discuss the feasibility of extending loans to keep the troubled company's business afloat, according to sources privy to the development.

The six-member board -- comprising HDFC [Get Quote] chairman Deepak Parekh, former Nasscom president Kiran Karnik, former Sebi member C Achuthan, CII chief mentor Tarun Das, renowned chartered accountant TN Manoharan and LIC [Get Quote] nominee Suryakant Balakrishnan -- met in Hyderabad on Thursday for the third time after it was constituted January 12.

The board meeting has been extended to January 23. Though the minutes of the meeting were not disclosed, the board is likely to come out with a decision on the appointment of a new chief executive officer and a chief financial officer on Friday.

"The board has started filtering the 40 applications that it received for the company' CEO post," sources said. Several attempts made to contact the board members on the developments have not been fruitful.