New Satyam Board to meet within 24 hours

NEW DELHI: The government has elected three members to the board of Satyam -- HDFC chief Deepak Parekh, former Nasscom president Kiran Karnik and former SEBI member C Achuthan--Minister for Corporate Affairs PC Gupta told reporters in the capital. Further appointments will be made subsequently as required.

"The new board will be fully independent, and will make its own assessment. The chairman would be decided by the board",minister added while commmenting on the powers granted to the new board.

The new board will meet with in 24 hours. "All options before the board are open, and it will decide what has to be done in the interests of the company.It is yet to be decided whether investors like Lazard has to be given space on the board," an official at corporate affairs ministry said.