The Indian Government has decided to take direct action to remis looking at a salary bailout for the 53,000 Satyam Computer Services employees.
A Rs 2,000 crore package is under consideration to ensure that Satyam employees get their salary on time after it the new board said that they are looking for funds.
It’s learnt that the [...]
The Government on Friday disbanded the current board of troubled IT company Satyam Computers and will nominate 10 new directors.
“The current board ceases to exist and there would not be any meeting on Saturday,The Centre is considering the appointment of suitable persons as directors of Satyam following interim permission by the Company Law Board (CLB).” [...]
Although Prime Minister Manmohan Singh government is “concerned” about the turmoil of one of India’s biggest IT brand – Satyam, it may not intervene directly to resolve the issues, according to top sources in the United Progressive Alliance (UPA).
“The government doesn’t have much scope to directly intervene at this stage. We are, of course, concerned [...]
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