Wanted: A boss and a buyer for Satyam
The newly appointed board of Satyam Computer Services said on Monday finding a new CEO for the scam-hit company and restating its finances were its top priority. A possible merger with a rival company is also on the table.
To find a buyer, Satyam has to first come clean with its finances, which were rigged by its disgraced former chairman, B. Ramalinga Raju, allegedly to the tune of at least Rs 7,100 crore. Parekh said an independent auditor would be appointed within 48 hours to restate Satyam's finances.This is also crucial to raising money to pay salaries of its 53,000 employees and meeting running expenses. "There is a doubt (about financial numbers) in everyone's mind, including ours," he said.
"It's a hell of a job," said Omkar Goswami, economist and an independent director on the board of Infosys Technologies. "The best thing that can happen to the company is that it finds a buyer.
In the worst case, it faces liquidation, but I hope that doesn't happen.”
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