Having ensured financial stability for the time being, scam-hit Satyam Computer today said it is looking ahead for ways to meet long-term plans, including a sale of the IT firm.
The Satyam board expects to outline the bidding process for a possible sale of the IT firm in the next 10 days, chairman Kiran Karnik said.
"We expect the (bidding) process to be defined in 7 to 10 days," Karnik said. "It's a work in progress. I can't give any deadline. I can only tell you, this needs to be done quickly," he added.
Karnik said on Wednesday many potential suitors had approached Satyam, but a formal sale process was yet to begin.
"We have put out the fire and are now looking at financial stability," he said, adding that the IT company would mortgage land if more funds were needed.
He, however, did not say if it has been decided on putting Sataym Computer up for sale.
The board of Satyam Computer Services began its meeting in Mumbai to discuss Satyam's future.
He said restatement of the company's accounts was in process and would not take much time. He, however, said said no time frame could be given for the exercise to be completed.
The new board has roped in auditors KPMG and Deloitte to restate the company's books.
He said the company was also in touch with market regulator Sebi on various issues.
Satyam had earlier written to Sebi seeking relaxation in takeover pricing norms to enable suitors make a decision in the current circumstances.