CII's Tarun Das among three new government nominees to join Satyam board

The government has nominated three more members to the reconstituted Satyam Computer Services board, raising its strength to six, union minister of corporate affairs Prem Chand Gupta said today.

Tarun DasThe new board members are: Tarun Das, chief mentor of Confederation of Indian Industry (CII); T N Manoharan,  ex-chief of Institute of Chartered Accountants of India and Suryakant Balakrishan Mainak, a nominee of the Life Insurance Corporation of India (LIC).

The government had already inducted HDFC chairman Deepak Parekh, former Nasscom chairman Kiran Karnik and former SEBI member and ex-presiding officer of Securities and Appellate Tribunal C Achutan to the Satyam board.

The enlarged board of Satyam will meet on Saturday to take a decision on appointing the new chief executive officer (CEO) and the chief financial officer (CFO), said Deepak Parekh.

He said auditors KPMG and Deloitte have started reviewing the books of Satyam, and that the company has receivables of around Rs1,700 crore. He also said Satyam may not require a bail-out considering the huge receivables.

Ram Mynampati, ex-CEO of the company, however, had said Satyam Computer may urgently require Rs150 crore to meet the salary bill.