Govt puts Parekh, Karnik and ex-Sebi member on Satyam Board
New Delhi: Moving quickly to stabilise the fraud-devastated Satyam Computer, the government on Sunday nominated noted banker Deepak Parekh, IT expert Kiran Karnik and former Sebi member C Achuthan to the IT company’s Board.
On the demand by institutional investors like LIC and Lazard for a representation on the Board, Gupta said, “All options are open in the interest of the company.”
The board would have eminent personalities from finance, law, IT and administration, Gupta said.
Gupta said that more members to the board would be nominated only if needed.
Asked about the priorities before the board, HDFC chairman Deepak Parekh said, “The first priority would be to meet as soon as possible… we will have to clear the mess.”
“I’m yet to talk to the other members,” Parekh said.
Karnik, former president of Nasscom, also said that the three newly named board members would meet as soon as possible and that the first priority is the arrangement of an operational management.
“We are trying to ensure that India continues to be safe, secure and reliable destination for IT services,” he said.
Former Sebi member, C Achuthan on Sunday said the topmost priority of the team would be to put back on rail the scam-tainted IT company and ensure that all those guilty do not go scotfree and that similar instances do not recur.
“The first step in the board meeting would be to evolve the strategy on how to go ahead and restore the damaged image of the company,” Achuthan said.

http://www.livemint.com/2009/01/11122725/Govt-puts-Parekh-Karnik-and-e.html

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