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Govt disbands Satyam Board

New Delhi: The government on Friday disbanded the current board of troubled IT company Satyam and would nominate 10 directors to the board. "The current Board ceases to exist and there would not be any meeting tomorrow," Corporate Affairs Minister Prem Chand Gupta said. "The Centre is considering appoint ....Read more

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protect the stakeholder interestsBy: shyam kishore | Saturday , 10 Jan '09 12:19:35 PM Reply | Forward The goverment and the public is striking Satyam with vengence.This is wrong .Satayam as a company has done nothing wrong . This is a malpractice of a few individuals .We must minimise the collateral damage and protect the other stake holder interest in this company who invested here on the faith on India.we are thowing away hopes of 53000 employees hopes and aspirations for no wrong of them. we must get satyam taken over by a larger IT company or run by the goverment as a ressurece measure .We can have politicians do the scams and still rule us . and goverment still sustain them .Please dont crucify an institution for the wrong doing of a few individual .lets solve this issue constructivly

GoodBy: Adab | Saturday , 10 Jan '09 11:33:16 AM Reply | Forward pro active.

Satyam Board supersedingBy: G N Sivaraman | Saturday , 10 Jan '09 8:40:36 AM Reply | Forward The Govt's move in superseing Satyam board is a step in the right direction.First, the country's image has to be save in the in the international scene.Seccondly, the company's affair has to be carrie without interruption and all present clients have to be assured of best continuous services.Thirdly, in the interest of 45000 employees and their families the govt;s intervention is a must.If top profesionals are roped in it will not be a difficult task to carry on the business as usual and do their best to retrieve the damage caused.

Satyam GateBy: vk | Saturday , 10 Jan '09 6:44:50 AM Reply | Forward The whole process of financial statement is faulty, you are asking auditors to certify your work and get paid, and raise. Maybe we should term limit a company for auditing and also force deposit a huge sum to SEBI for any fraud happens like this.

USA Bank Fails VS Satyam FailsBy: Karthik | Saturday , 10 Jan '09 1:04:16 AM Reply | Forward Raju I feel sorry for you. Even compared to USA Banks failing, i dont find much difference. Bankruptcy of US Bank cannot happen in a day time. But hats off for not loosing your life into this problem and bold enough to face the home land law of justice.You are Great! And also this is ever our people will understand the role of Government.

Forceful but predictableBy: Vivek | Friday , 9 Jan '09 23:17:55 PM Reply | Forward 1. Board members must be "elected" by shareholders not appointed by govt. Govt appointees are loyal to their political masters ; not company or shareholders.2. How about banning political parties when one policitian is found to be corrrupt or incompetent? If not, I suggest leaving PWC alone to clean their own house. They will or market place will force them to.The world wants to see that India will respond to this forcefully but predictably in accordance with the law. Knee-jerk reactions such as this will only scare everybody away.

Pls give more powers to SEBI/BSE/NSE/NSDL/DCA/MCABy: kumudha | Friday , 9 Jan '09 22:57:47 PM Reply | Forward The whole system seems to be highly corrupt and can be bought so easily. – PM and PC keeps boasting of our corrupt free system. Plus all Our Regulators SEBI/BSE/NSE/NSDL/DCA/MCA do not seem to have enough powers to take action erring companies. We have a grievance against STERLITE INDUSTRIES who Forcibly took away shares acquired thru IPO in 1993. We must have written innumerous complaints to SEBI/BSE/NSE/NSDL/DCA/MCA but in vain. All they do is just forward the complaints and companies ignore and devious in their reply. It appears that company is very confident that SEBI/BSE/NSE /NSDL/DCA/MCA are powerless and cannot do anything. Cleverly they keep changing the registrars from PCS Data to Sharepro to Karvy. Good luck to all investors think trillion times before investing in Indian markets and loosing your pants No one is going to protect your money - Kumudha and Suresh

The BoardBy: Sridhar | Friday , 9 Jan '09 22:53:15 PM Reply | Forward Ten thieves. So there will be ten government sponsored thieves instead of one private we had. How can any one trust the government

fooling the public and cring wolf while using the backdoor to gain control of the company.By: Sanjay | Friday , 9 Jan '09 21:26:15 PM Reply | Forward Looks like the government is doing a scam and trying to loot Satyam. They are least interested in its success but taking over control of the company, by hook or by crook.

Investigate the role of board members as wellBy: Abhijit | Friday , 9 Jan '09 21:22:28 PM Reply | Forward In majority of Indian companies, mainly the big ones like Reliance, boards of directors are just an eyewash, all the crucial decisions and intent to cheat people and the country are taken by the CEOs (the Boss) and BODs have no other option but to support his/her whims. Of course those guys (in BOD) get their booties. What those members of Satyam BOD were doing when Linga Raju was doing all these cheating? Please don’t tell that they did not know. Anyway, don’t worry; nothing will happen to any of them to serve justice to the victims. An ever lasting investigation will go on and then a longer court trial, everyone will pour their milk on the Linga to get some butte out of that. .

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