News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Top Headlines »
 New direct tax regime kicks in from today
 Want to claim ITR refund? This is what you must know about Income Tax e-payment
 New tax regime and other tax changes that will come into effect from April 1
 Here are the key operational aspects COVID-19 tax-saving extension
 Where’s My Income Tax Refund? How To Track It
 Here's how it impacts you Tax saving deadline extended for FY2019-20
 Income Tax Dept proposes Amendment in Tax Audit Form
  From belated ITR to Section 80C investments – 7 points every taxpayer should know
 Find out what changes from today New income tax rules from April 1
 5 changes that come into effect from today Income tax new rules
 Notification No. 36/2020 Central Board of Indirect Taxes and Customs

New auditing firm in next 48 hours: Satyam board chairman Parekh
January, 13th 2009

In a jam-packed press conference at Satyam'''s headquarters today, Satyam Board Chairman and HDFC Chairman Deepak Parekh said the board's top pririty was to restore confidence among company's employees, invesitors and clients by continuity of the business.

He said the board was in the process of appointing a new audit firm in the next 48 hours. "We already are in talks with two firms and also called for their applications," he informed.

Replying to a question, Parekh said more board members would be appointed by the central government in days to come. He also said there was a need for addressing staff concern. "Banks should go easy on the Satyam staff," Parekh said.

Dismissing any conflict among directors, Parekh said it was premature to decide on suing PWC, the current Satyam auditor.

He also ruled any talks with the tainted Satyam CEO Ramalinga Raju.

Replying to yet another question, Parekh stressed the need for appointing new CEO and CFO to accord direction to Satyam. "It's an herculean task. It will take some time to find one. And even if we find them, they wouldn't like to sacrifice their good jobs to take up the challenge possed by Satyam," he said.

As of now two clients have expressed satisfaction with Satyam, Parekh said.

Other two board members are Kiran Karnik, former president of the IT industry body the National Association of Software and Services Companies (Nasscom) and C Achuthan, former presiding officer of the Securities Appellate Tribunal (SAT).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting