Satyam hearing, board meet scheduled today

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Satyam hearing, board meet scheduled today

Two major events are lined up for the day with regard to the Satyam scam. The Nampally court will be hearing the Satyam case today. Also, the board of the IT major is scheduled to meet today.

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Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » RELATED NEWS CB-CID raids Suryanarayana Raju's house in Hyderabad On the brink, Satyam needs immediate cash to survive Documents seized from Satyam offices appear fake Satyam announces its newly constituted Board ALSO READ See latest News about Mahindra Satyam See previous management interviews See what other Experts & Brokerages are saying about Mahindra Satyam Mahindra Satyam BSE | NSE 25/05/12 Are Mutual Funds betting on Mahindra Satyam?

Two major events are lined up for the day with regard to the Satyam scam. The Nampally court will be hearing the Satyam case today. Also, the board of the IT major is scheduled to meet today.

In the court hearing on Satyam, a decision on whether Sebi can record statements from Raju brothers is expected today. Moreover, a hearing on the bail application of Ramalinga Raju, Rama Raju and Srinivas Vadlamani is also expected from the hearing. CB-CID has also filed a petition to extend police custody and CB-CID might ask for an extension of 10 days as the police custody of Raju Brothers and Vadlamani will end today at around 10 am.

On the other hand, there will be a Satyam board meeting scheduled for today may make a choice on an investment banker and it may also take a call on the CEO and CFO.