Post, Ramalinga Raju’s Satyam scam, the company is seeing some signs of solidarity and encouragement as stocks of Satyam rose by almost 7% on  Monday. Though still at a miserable rate of Rs. 25.45, the Satyam stock rose by 7% as most of Satyam’s clients showed faith in Satyam and stated that all deliverables were delivered as per timelines and requirements.

According to a stock exchange announcement, the newly-appointed board met on Jan 17 for the second time in six days to discuss the “immediate action plan”. This was, incidentally, the first board meet after the government’s decision to nominate three additional members.

The announcement added that the board is in touch with key customers and so far they have not heard of deliveries being affected in any way. The board has been in talks with customers, who have expressed their continued support.

On the more important issue of liquidity, the board said there was definite improvement on ‘collections’ last week even as they are engaged in discussions with banks and financial institutions. “All efforts are being made to ensure that the associates (employees) are paid their salaries on time,” said the announcement.

Among other things, the board decided to meet on a weekly basis till the time the search for a CEO and CFO continues. Further, till such appointments, one of the board members would chair the meeting by rotation.

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