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Highlights: Satyam’s Press Conference

08 January, 2009

Satyam’s interim CEO, Ram Mynampati says was not aware of the disclosures and always relied on the audited reports.

Satyam to focus on continuing business as usual

Talking to our clients and customers on one to one

Interacting with the clients across multiple levels, to build the confidence so that they continue working with us.

Reached out to all associates and they have all expressed their solidarity.

Still going through a detailed assessment and trying to find out the seriousness of Raju’s mail.

Liquidity situation in the company not too comfortable.

In the process of identifying candidates for new members to the Board of Satyam.

Satyam’s CFO (Chief Financial Officer) Srinivas Vadlamani resignation not accepted by the Board yet. CFO has assured the Board that he will get back in the next two weeks, says Mynampati.

Three Board members on Satyam as of now.

Satyam assumes responsibility to take care of all its employees.

The near term liquidity can be addressed.

Still verifying the balance sheet cash positions

Mynampati says not sure of the liquidity situation in hand. To quote ” I don’t know the liquidity situation today, will get to know it shortly.”

Current leadership team is not stepping in for financial benefit.

Look at hiring potential investment banker as early as possible  and will look at all possible strategic options, benefitting the stakeholders.

 


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Highlights: Satyam’s Press Conference

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