Satyam’s new board starts meeting

January 8th, 2009 NEW DELHI - The beleagured IT firm Satyam Computer cannot hold its board meeting Saturday as scheduled earlier, Minister for Company Affairs Prem Chand Gupta said here Friday. 'The government is restraining all current directors from the board.

January 11th, 2009 HYDERABAD - The members of the new board of the fraud-hit Satyam Computer Services have started getting pesky calls - from mediapersons, forcing them to request scribes not to call too often and allow the team to do its work. 'I must have got about 20 calls on my cell phone when the (board) meeting was on.

January 8th, 2009 HYDERABAD/NEW DELHI - The government Friday evening superseded the Satyam board and dismissed three remaining directors, including two independent ones, of the tainted IT major. The government has cancelled a Satyam board meeting scheduled for Saturday in Hyderabad.

January 22nd, 2009 HYDERABAD - The government-appointed directors of the beleaguered Satyam Computer Services Friday announced that they have shortlisted three candidates for the posts of chief executive and chief financial officer, and that the names of those selected will be announced next week. 'The selected person will be uniquely qualified to lead the company during this period of transition and will be a leader of global standing and recognition,' the directors said in a statement issued to the Bombay Stock Exchange at the end of their two-day meeting here.

February 3rd, 2009 HYDERABAD - The government-appointed directors of fraud-hit Satyam Computer Services Wednesday extended its meeting by a day. The board, which is meeting for the fifth time in three weeks, will continue its meeting Thursday.

January 21st, 2009 BANGALORE - The Satyam board will decide on the new chief executive officer (CEO) and chief financial officer (CFO) at its meeting in Hyderabad, industry and commerce minister Ashwani Kumar said here Thursday. 'The new board is meeting in Hyderabad today (Thursday) and tomorrow (Friday).

January 16th, 2009 HYDERABAD - A month after Satyam Computer Services founder B. Ramalinga Raju's aborted bid to buy two firms promoted by his sons, minutes of the board meeting on the issue became public Saturday, showing that the independent directors had their doubts about the move.

February 2nd, 2009 HYDERABAD - The government-appointed directors of Satyam Computer Services will meet here Wednesday for the fifth time in three weeks to take forward their search for candidates for top positions and a strategic investor or outright buyer for the cash-starved company. The meeting is being held against the backdrop of reports that several major companies were exploring option of taking over Satyam, the country's fourth largest software exporter.

January 25th, 2009 HYDERABAD - The government-appointed directors of embattled Satyam Computer Services will meet here Tuesday to pick a new chief executive officer (CEO) and finalise funding arrangements to ensure the fraud-hit company's smooth operations in the next two months. The six directors, making up the new board, said last Friday that they had shortlisted three candidates for the posts of CEO and chief financial office (CFO) and they will finalise the names this week.

February 21st, 2009 HYDERABAD - Fraud-hit Satyam Computer Services Saturday decided to invite a strategic investor to keep India's fourth largest software outsourcer running, and will soon announce the details of the process it has adopted for the purpose. The decision was taken at a meeting here of the central government-appointed board of directors.

January 22nd, 2009 HYDERABAD - Market regulator Securities and Exchange Board of India's plea to record statements of disgraced Satyam Computer Services founder B. Ramalinga Raju and his brother B.

January 16th, 2009 HYDERABAD - The government-appointed board of directors of the fraud-hit Satyam Computer Services Saturday said it was engaged in discussions with banks and financial institutions to address the issue of liquidity and assured that it would take all steps to pay salaries of the employees on time. The board, which met here for the second time in six days, left the appointment of the board chairman to the government and said the search for a chief executive officer (CEO) and chief financial officer (CFO) was still on.

January 9th, 2009 HYDERABAD - Scam-tainted IT bellwether Satyam Computer Services Ltd late Friday welcomed the central government's move to appoint 10 nominees as directors to replace the current board. 'We welcome this decision which will ensure uninterrupted operations and restore the confidence of all employees, customers and shareholders across the globe,' the Hyderabad-based company said in a statement.

December 27th, 2008 BANGALORE - Beleaguered Satyam Computer Services postponed its board meeting, convened Monday (Dec 29) to discuss a proposal for buy-back of shares by promoters, to Jan 10, the IT bellwether said Sunday. 'The next meeting of board of directors has been rescheduled to January 10, 2009, in order to allow the board members to consider additional options,' the Hyderabad-based company said in a statement.

February 4th, 2009 HYDERABAD - The scam-hit Satyam Computer Services Thursday appointed a company veteran, A.S. Murty, as its chief executive, while naming two other outside experts as advisors to the reconstituted board.