New Delhi, Jan 12: The government's help to the
crisis-ridden Satyam Computer Services may include financial
support as well, as it is a question of saving jobs and
institutional investment, Commerce and Industry Minister Kamal
Nath said.
He said the government will consider "all aspects" in
helping the troubled IT company "once it receives firm
proposals from the newly constituted board".
Yesterday, the government constituted a three-member
board comprising noted banker Deepak Parekh, IT expert Kiran
Karnik and ex-SEBI member C Achutan. More appointments have
been made today.
According to the Company Law Board's order, the
reconstituted board of the IT major can have a maximum of 10
members.
The government on Friday sacked the board of Satyam a
few days after its founder-chairman B Ramalinga Raju admitted
to a Rs 7,800-crore fraud in the books of accounts of the IT
company.
When asked whether the government will consider
financial help, Nath said, "Of course. There are many jobs at
stake and institutional stakes."
He said now it was up to the board to come up with
proposals.
Bureau Report
First Published: Monday, January 12, 2009, 00:00