New Delhi: Insurance major LIC believes that Satyam Computer Services Ltd remains a valuable IT firm and that it can be revived with the right leadership.
LIC’s Chairman TS Vijayan said on Thursday, “We have an investment in Satyam. If better returns come from a sale, then we will go for a sale.”
LIC has an over 4 per cent stake in Satyam. LIC has equity investment and board representation in Satyam.
LIC however, ruled out joining the race for acquiring the troubled IT firm, either alone or with L&T.
Satyam Board member Deepak Parekh had earlier said that the company could consider mortgaging assets like real estate to raise cash from banks.
The Board would continue the discussions on Friday on the immediate tasks before it including mobilisation of credit against company receivables for running the operations, company sources said.
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