Prefer selling Satyam only as a whole: Kiran Karnik

Published on Wed, Feb 11, 2009 at 16:45 |  Source : CNBC-TV18

Updated at Thu, Feb 12, 2009 at 12:36  

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Kiran Karnik, Chairman, Satyam

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Kiran Karnik, Chairman of the Satyam board, also a former NASSCOM chairman, said he would prefer selling Satyam 'as a whole' rather than in parts.

 

Hyderabad-based Satyam Computer Services, earlier touted as the country's fourth-largest IT and outsourcing company, has hogged the headlines all of last month after its erstwhile chief and founder B Ramalinga Raju admitted to a Rs 7,000-crore scam and said most of the cash on the company's assets was fictitious. A multi-pronged enquiry has since been going on against the under-arrest Raju and the former Satyam top management. The government constituted six members to the board of Satyam to run the affairs of the company, while scrapping the earlier one. Karnik was later appointed chairman of the board.

 

Read: Everything about the Satyam scam.

 

Karnik also said a 'couple of major clients' concerned over the troubled tech company's long-term stability have moved on.

"There is greater comfort, stability among clients now," Karnik, however, said, adding that they were not worried over contract execution.

 

Karnik said the company's long-term plan would be in place in seven to 10 days. He added that the beleaguered tech firm was yet to pay February salaries to its employees but was in a position to do so.

 

Karnik, also a former NASSCOM chairman, said he would prefer selling Satyam 'as a whole' rather than in parts - after the scam erupted, a number of IT and non-IT players have been in the fray to buy out the teetering-on-the-brink company.

  

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