Satyam board meets to evaluate bidders' EoIs

The government-appointed board of Satyam has formally started the process of short-listing bidders who have expressed their interest in the troubled IT firm.

The board chaired by Kiran Karnik, former president of software industry body Nasscom, will be assisted by investment bankers Goldman Sachs and Avenidas in the short-listing of bidders

Justice SP Bharucha, retired Chief Justice of India, will oversee the final bidding process at Satyam to ensure that it is done in a fair and transparent manner.

Satyam, on Thursday, closed registrations for potential bidders as it began a process to sell 51 per cent stake in the company, which is caught in the country's biggest corporate scandal.



The board will make the financial and legal data available to those shortlisted companies who will qualify in the EoI criteria.

The deadline for submitting the bid and proof of adequate funds is March 20.