Can new board members would be able to bail out Satyam?
Deepak Parekh,
Kiran Karnik and C Achuthan aren't exactly the three musketeers, but the
government's new Board for Satyam is made up of a man for all seasons, a brand
equity builder and a stickler for rules.
Their task is restore trust in the company after the ultimate act of betrayal
by its founder Ramalinga Raju, an iconic Indian industry leader until he
disclosed that he had been fudging the company's accounts for years.
Parekh, 65, is the Chairman of
HDFC,
Achuthan is credited with
overturning SEBI order on Kishore Chhabria-Vijay Mallya on the Herbertsons case
pertaining to violation of takeover code.
The biggest asset of Achuthan was that he was more concerned about investors'
interest than SEBI.
"We have to clear the mess," was the message Parkeh sent out after
being named as a member of the Board along with Karnik.
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