Satyam Computer Services Ltd.
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Recent News
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12.1.2009, The Economic Times, Page 1
The government on Sunday appointed a three member board comprising HDFC chairman Deepak Parekh, former Nasscom president Kiran Karnik and former Sebi member C. Achutan to steer tained Satyam Computers. They will meet on Monday morning.
11.1.2009 Hndustan Times, page 1
Satyam Ex. CEO was arrested. Ex. MD, Rama Raju was also arrested. CFO V. Srinivas was also taken into custody.
10.1.2009 Mint, Page 1
Satyam Board was dissolved by Government of India. India's Ministry of Corporate Affairs (MCA) dissolved the company's board and a new board with 10 nominee directors will be announced by MCA.
9.1.2009
Satyam Computer Services was removed from the BSE Sensex List and NSE Nifty list of stocks.
30th December 2008, Mint, Page 1
Satyam faces director exodus
Vinod Dham, Executive Managing Director, NEA-Indo US Ventures resigned
Krishna Palepu, Professor, Harvard Business School, resigned
M. Ramamohan Rao, Dean, Indian School of Business, resigned
Mangalam Srinivasan resigned
Satyam has a high institutional shareholding to the extent of 62%.
30th Decemer 2008, Economic Times, page 1
PEs for Satyam stake buy
Big buyout firms such KKR, Carlyle, Silver Lake, Apax and TPG have become active since Satyam appointed DSP Merrill Lynch to explore strategic options.
TPG Capital's partner Vivek Paul was a former CEO at WIPRO.
KKR's portfolio investment Aricent Technologies is being managed by Wipro's former M&A head, Sudip Nandy. Thus PE firms have high level talent in their ranks to manage Satyam.
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News 2008
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