Click to play videoNew Delhi: The new Board assigned the task of revitalising Satyam will meet in Hyderabad on Tuesday.
The Board of the company, now under a cloud for the Rs 8,000 crore fraud committed by its former founder Chairman B Ramalinga Raju, was supposed to finalise nominees for the crucial posts of CEO and CFO during its two-day session, earlier slated to begin on Monday.
Besides working on capital arrangement, the Board is expected to decide on the appointment of a CEO and a CFO, from the three shortlisted candidates.
Sources said the Board had already shortlisted three candidates out of the 40-odd applicants at its previous meeting held on January 23.
Last week, the Board had said that that funding arrangements till March end would be tied up before January 28. Today's meeting was also to be the prelude for announcing the funding arrangement latest by January 28 to take care of salary and payment for vendors and suppliers up to March 2009.
On Monday, Satyam employees received messages by the Board assuring them about their salaries.
The Board has left the decision of appointment of a chairperson to the Government. The company was also to finalise the investment banker who would pull out the beleaguered company from the morass.
Today's meeting will be the fourth meeting of the new board in 15 days.
The new Board of Satyam Computer Services Limited was earlier slated to meet on Monday. Unconfirmed reports say that the meeting was postponed due to the Solar eclipse on Monday, which also happened to be 26 January, the Republic day of the nation.
Since an eclipse is considered inauspicious, the sources said, the meeting was postponed.
(With inputs from UNI)
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