The six-member Satyam Computer Services board is on a war-footing to find a strategic investor to buy out the fraud hit Indian software outsourcer, said Prem Chand Gupta, Corporate Affairs Minister, on the sidelines of a press conference on Sunday.

“The board will carry out the bidding process in the most transparent manner and any company bid for Satyam subject to the proceedings being laid down by the board,” the minister said.

According to him, the coming Lok Sabha elections would have no bearing on both the ongoing investigation at Satyam and the appointment of a suitable investor. “The board is working on a criterion and they will decide who the strategic investor will be in a few weeks time,” he said.

Commenting on the investigation process, the minister said the Serious Fraud Investigation office (SFIO) that is probing the books of Satyam and Maytas would be able to complete their investigation in three months as the body has not asked for an extension so far.

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