Govt supports Satyam Board's move for strategic sale: Gupta

NEW DELHI: Satyam Board has performed its tasks well so far says P C Gupta, Minsiter for Corporate Affairs on Thursday. He further added that the govt has supported Board's move for strategic sale.

"It is in the government's interest that an important company, with a large number of international clients and with a good name, if run professionally can be (re)-established," the minister maintained. "Satyam Board has concluded strategic investors required. Strategic sale will enable long term success of the company. Auction process to be transparent and competitive", said Mr Gupta.





"The Company Law Board authorised the board of Satyam Computer services to increase the authorised equity share capital of the company from Rs 160 crore to Rs 280 crore. For this, the company has to pass a resolution", pointed Mr Gupta.