New Delhi, June 10: The government today said the
directors it nominated to run scam-hit Satyam Computer are
ready to check out after what it called a job well done.
"Our job is done. I think they can now be phased out...
we can take credit for what we have done and we will give
credit to them for what they have done," Corporate Affairs
Minister Salman Khursheed told agencies when asked if the directors
would be recalled now.
Satyam posted robust earnings for the October-December
quarter and had a profit of Rs 56 crore in the January-
February period.
"It is for the board to decide (on when to send the
directors back)," Khursheed said.
Satyam Computer, which was till late last year ranked
India`s fourth largest software exporter, began showing signs
of trouble in December 2008 when the company made a desperate
but failed attempt to acquire two non-IT firms promoted by the
kin of its founder Ramalinga Raju.
Less than a month later, Raju wrote to the Satyam board
saying he had been cooking the books for many years, falsified
profits and created fictitious assets.
"It is like riding a tiger and not knowing how to get off
without being eaten," wrote Raju, now in jail awaiting trial.
The government lost no time in nominating IT wizard Kiran
Karnik, banker Deepak Parekh and former regulator C Achuthan
to take the reins of the company, on which the lives of nearly
50,000 employees dependent then.
Bureau Report
