Immediate priority to convene board meeting soon: Parekh

NEW DELHI: Soon after the constitution of the new board of the beleaguered IT firm Satyam, HDFC Ltd Chairman Deepak Parekh said meeting as soon as possible is priority.

The board would meet as soon as possible and chart out the course of action, Parekh. "I'm yet to talk to the other members. I have just got this news," he said.

Asked about what message he would like to give to 53,000 employees of Satyam, he said measures need to be taken to restore confidence among clients and investors.

The government nominated noted banker Parekh, IT expert Kiran Karnik and former SEBI member C Achutan to the IT company's Board.

The three-member board would meet within 24 hours to decide on the remaining members, whose number can go up to seven, and the Chairman, Corporate Affairs Minister Prem Chand Gupta told reporters in a hurriedly called press conference two days after disbanding the truncated Satyam Board.

On demand from institutional investors like LIC and Lazard for a representation on the Board, Gupta said, "All options are open in the interest of the company."

The board would have eminent personalities from finance, law, IT and administration, Gupta said.