Satyam Computer Services Limited said on Monday 12th of January […]
Satyam Computer Services Limited said on Monday 12th of January that it has received a notification from the Company Law Board, Government of India, that it intends to appoint 10 nominees as directors of the company to replace the current board.
In view of this decision the board meeting originally scheduled for January 10, 2009, has been cancelled. The new board is expected to meet within 7 days of its constitution.
“We welcome this decision which will ensure uninterrupted operations and restore the confidence of all employees, customers and shareholders across the globe,” the company said.
The company added that Interim CEO Mr. Ram Mynampati had earlier written to the Securities and Exchange Board of India; the Company Law Board; the IT Secretary, Government of Andhra Pradesh; NASSCOM; and the Confederation of Indian Industry for recommendations to nominate independent directors.