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 »
 ITR 1, ITR 4 Forms for AY 2020-21 released – Check who needs to file schedule D1
 CBDT notifies IT return forms for 2019-20
 Here is how to file Income Tax Returns for AY 2020-21: Step by step guide
 How SBI savings account holders can submit Form 15G, Form 15H online
 Good news of Income Tax money saving opportunity! Now, make 80C, 80D, 80G investments till this date
 Here is how to file Income Tax Returns for AY 2020-21 ITR-1 notified
 Income tax department opens ITR filing window for those using ITR 1 form
 How to pay zero tax on a salary of Rs 18 Lacs?
 ITR-1 e-form for FY 2019-20 now available on income tax department website
 How TDS at reduced rates will affect taxpayers
 New Income Tax forms are out: Know the four key changes

Satyam's board begins talks on funding options, new CEO
January, 17th 2009

The new-look board of Satyam Computer Services began its meeting here to discuss among other things options to raise funds to keep the business alive.

The board, whose size was doubled with the induction of three members on Thursday, is likely to elect a new Chairman to steer the company out of the financial mess that its founder Ramalinga Raju led it into.

The government had appointed Tarun Das, T N Manoharan and S Balkrishna Mainak, on Satyam's board, which already has Deepak Parekh, Kiran Karnik and C Achuthan.

Discussions about the financial situation of the company in the backdrop of Ram Mynampati's SoS to the Corporate Affairs Ministry is expected to dominate the agenda, as also complaints from accounting regulator ICAI about the board's choice of auditor to restate Satyam's financials.

Although the board had appointed KPMG and Deloitte, ICAI had objected to the appointment of KPMG, since it is not a registered with the regulator.

The board has been mandated to protect the interest of over 50,000 Satyam's employees and stakeholders following Raju's revelation of accounts fudging. The board is also expected to decide on the appointment of new CEO and CFO to bring back the company' s operation to normalcy.

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