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Raju’s lawyers stern, employee numbers not fibbed

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TimePublished on Tue, Jan 27, 2009 at 21:07 in Business section

TagsTags: Satyam Computers, Ramalinga Raju , New Delhi

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SOME TRANSPARENCY: The Satyam board has confirmed that there has been no fudging of the employee count.

SOME TRANSPARENCY: The Satyam board has confirmed that there has been no fudging of the employee count.


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New Delhi: Ramalinga Raju's lawyer has challenged the charge that Satyam's management fibbed employee numbers to siphon funds. The Satyam board meeting has concluded and the board has confirmed that there has been no fudging of the employee count at Satyam.

The board has confirmed that they are not looking at selling Satyam in parts. The board has also appointed Boston Consulting Group as management advisors to support the directors and the Satyam leadership team.

A three member team is expected to work in the revival process. The board has also confirmed that they will be paying the Jan 2009 salaries to the employees.

Goldman Sachs and Avendus are also appointed as the new investment bankers.

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