Satyam board to focus on collecting dues from clients
The company's new board will discuss how to collect recievables speedily from clients, Mr Parekh said. Lighter side of Satyam I Accounting scandals
By ET Bureau |
The newly constituted Satyam Board will focus on collecting receivables from all their clients. "The company has urged all its overseas and domestic clients to pay recievables due as early as possible", said Satyam's board member Deepak Parekh on the sidelines of a CII event.
"We have told our sales force to go out and agressively recover recievables from Satyam's clients," he said.
While Satyam's clients are still coming to terms with the fiasco, the company's new board will discuss how to collect recievables speedily from clients in the board meeting to be held in Hyderabad on January 22 and 23, Mr. Parekh said.
The board will discuss the auditors in its meeting.
"PricewaterhouseCoopers would continue to be the auditors for Satyam and this discussion will also be taken up at the forthcoming board meeting.'' said Mr Parekh. The new board had recently asked KPMG and Deloitte to assess the balance sheet of the scam-tainted company and put forth a report on it.
More than two weeks since the previous board was dismissed, the company still continues to function without a chairman as the government is yet to appoint one. "Every board meeting will be chaired by each one of us.We will continue to rotate the chairmanship's role until the government appoints one of us as the chairman," Mr Parekh said.
Mr. Parekh was quick to point out that FIIs have not lost faith in India. "While some FIIs sold Satyam stock in droves, some others saw oppurtunity to make some money and bought the shares,"
"We have told our sales force to go out and agressively recover recievables from Satyam's clients," he said.
While Satyam's clients are still coming to terms with the fiasco, the company's new board will discuss how to collect recievables speedily from clients in the board meeting to be held in Hyderabad on January 22 and 23, Mr. Parekh said.
The board will discuss the auditors in its meeting.
"PricewaterhouseCoopers would continue to be the auditors for Satyam and this discussion will also be taken up at the forthcoming board meeting.'' said Mr Parekh. The new board had recently asked KPMG and Deloitte to assess the balance sheet of the scam-tainted company and put forth a report on it.
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More than two weeks since the previous board was dismissed, the company still continues to function without a chairman as the government is yet to appoint one. "Every board meeting will be chaired by each one of us.We will continue to rotate the chairmanship's role until the government appoints one of us as the chairman," Mr Parekh said.
Mr. Parekh was quick to point out that FIIs have not lost faith in India. "While some FIIs sold Satyam stock in droves, some others saw oppurtunity to make some money and bought the shares,"
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