11 January,2009 01:55 PM IST | | PTI
Moving quickly to stabilise the fraud-devastated Satyam Computer, the government today nominated noted banker Deepak Parekh, IT expert Kiran Karnik and former SEBI member C Achutan to the IT company's Board.
The three-member board would meet within 24 hours to decide on the remaining up to seven members along with the Chairman, Corporate Affairs Minister Prem Chand Gupta told reporters in a hurriedly called press conference two days after disbanding the truncated Satyam Board.
On the demand by institutional investors like LIC and Lazard for a representation on the Board, Gupta said, "All options are open in the interest of the company."
The board would have eminent personalities from finance, law, IT and administration, Gupta said.
Gupta said that more members to the board would be nominated only if needed.
Asked about the priorities before the board, HDFC Chairman Deepak Parekh told PTI over telephone, "The first priority would be to meet as soon as possible... we will have to clear the mess."
"I'm yet to talk to the other members," Parekh said. Karnik, former President of NASSCOM, also said that the three newly named board members would meet as soon as possible and that the first priority is the arrangement of an operational management.
"We are trying to ensure that India continues to be safe, secure and reliable destination for IT services," he said.
Immediate priority to convene board meeting soon: Parkeh
Soon after the constitution of the new board of the beleaguered IT firm Satyam, HDFC Ltd Chairman Deepak Parekh said meeting as soon as possible is priority.
The board would meet as soon as possible and chart out the course of action, Parekh.
"I'm yet to talk to the other members. I have just got this news," he said.
Asked about what message he would like to give to 53,000 employees of Satyam, he said measures need to be taken to restore confidence among clients and investors.
The government nominated noted banker Parekh, IT expert Kiran Karnik and former SEBI member C Achutan to the IT company's Board.
The three-member board would meet within 24 hours to decide on the remaining members, whose number can go up to seven, and the Chairman, Corporate Affairs Minister Prem Chand Gupta told reporters in a hurriedly called press conference two days after disbanding the truncated Satyam Board.
On demand from institutional investors like LIC and Lazard for a representation on the Board, Gupta said, "All options are open in the interest of the company."
The board would have eminent personalities from finance, law, IT and administration, Gupta said.
