Things are moving at a fast pace with the  Government trying to take quick measures to control the damage caused by the Satyam scam. The board of Satyam had been dissolved and their board meeting stands cancelled. The government has elected three members to the board of Satyam — HDFC chief Deepak Parekh, former Nasscom president Kiran Karnik and former SEBI member C Achuthan–Minister for Corporate Affairs PC Gupta told reporters in the capital. Further appointments will be made subsequently as required.

“The new board will be fully independent, and will make its own assessment. The chairman would be decided by the board”,minister added while commenting on the powers granted to the new board.

The new board will meet with in 24 hours. “All options before the board are open, and it will decide what has to be done in the interests of the company.It is yet to be decided whether investors like Lazard has to be given space on the board,” an official at corporate affairs ministry said.

Related News on Satyam Scam:

1. New Satyam Board To Meet On Monday In Hyderabad - The newly appointed board by the Government after dissolving of...
2. Satyam Board To Meet Again This Saturday - With a high profile board at the helm of  Satyam,...
3. Fraud Hit Satyam Keen On Buy Out By Strategic Investor - The six-member Satyam Computer Services board is on a war-footing...
4. Government Puts Parekh, Karnik And Ex-SEBI Member On Satyam’s Board - Moving quickly to stabilise the fraud-devastated Satyam Computer, the government...
5. Newly Appointed Directors Ready For Satyam Damage Control - Kiran Karnik, who has been appointed as the one of...