Satyam board to meet on Jan 17; audit work started: Parekh

NEW DELHI: The government-appointed board of crisis-ridden Satyam Computer will meet again on Saturday to take stock of the situation, one of the board members Deepak Parekh said today.

Speaking to reporters here after a meeting with Corporate Affairs Minister Prem Chand Gupta, Parekh said that the company has receivables of Rs 1,700 crore but denied having asked the government for any bailout as yet.

"Until we know the real position, how can we speak of bailout... the company has receivables of Rs 1,700 crore," Parekh said.

Parekh also said that the new auditors KPMG and Deloitte, which were roped in yesterday to restate the financial statements of Satyam, have begun their work.

Parekh, Chairman of HDFC Ltd, was named to the Satyam's board last Sunday along with former Nasscom President Kiran Karnik and Securities Appellate Tribunal's past presiding officer C Achuthan.