Can New Board Members Would Be Able To Bail Out Satyam?
Sign in

Can new board members would be able to bail out Satyam?

Investment analyst

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, India's premier housing finance institution and more than that is the government's adviser at large, while Karnik is credited with propping up the Indian IT industry and Achuthan with handling the Ketan Parekh securities scam case.

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.

start_blog_img