‘Satyam not in need of government help’

Special Correspondent

NEW DELHI: Corporate Affairs Minister Prem Chand Gupta on Saturday said that the crisis-ridden Satyam Computer Services was not in need of government support to disburse salary to its employees.

Speaking to journalists here, Mr Gupta said: “They [Satyam board] don’t need [the] government’s help. They will manage the issue [payment of salaries].”

In recent days, the employee strength of the Satyam itself became a matter of controversy with the Andhra Pradesh government’s investigating agency CID claiming before a local court that the Hyderabad-based IT major had inflated its staff numbers by at least 12,000.

According to Satyam’s erstwhile chairman B. Ramalinga Raju’s confession statement, the company is said to have over 52,000 employees on its rolls. To meet its establishment costs, including payment of salaries, the company is said to require about Rs 500 crore each month.

On the appointment of a new CEO and CFO for the company, Mr Gupta said: “This is being looked into by the board. They are studying the applications they have received. The new board will take a view soon.”

According to Tarun Das, one of the six directors on the government-nominated Satyam Board, 40 applications were received for the two top management positions in the company.

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