Six hand-picked men entrusted to save Satyam

[Kalyan]

Six hand-picked men entrusted to save Satyam

Deepak Parekh: Negotiations with banks came naturally to Mr Parekh, chairman of HDFC.

As time was running out, Parekh had to convince two banks to give fresh loans and the existing bankers to extend the tenure for loans taken earlier.

Everyday was tense, till salaries were paid to employees and dues settled with vendors. He also moved fast to appoint forensic auditors as well as the different advisors to Satyam.

source  : economic times

[Kalyan]

Kiran Karnik


As panicky customers started moving projects to other service providers, getting them back was one of the major concerns of the new board.

The soft-spoken but assertive Mr Karnik, who resigned as Nasscom president two years ago, took on a significant part of this responsibility.

He was also constantly in touch with the regulatory agencies to secure various approvals for the strategic sale



source  : economic times

[Kalyan]

TN Manoharan

The former president of the ICAI, TN Manoharan, chipped in with his bit with the customers, even as he handled the financial aspects.

As head of the audit committee, Manoharan was monitoring the progress of the forensic audit in India's biggest accounting fraud, besides overseeing the work of internal auditors, Brahmayya & Co.

"He was everywhere. I would rank him right up there," said a Satyam official.


source  : economic times

[Kalyan]

Tarun Das

All stakeholders were in touch with Tarun Das, chief mentor of CII, who was also instrumental in appointing the Boston Consulting Group.

"His wide network and excellent public relations helped the firm tide over the crisis in a big way," said another official ET spoke to.

Das also kept the top echelons of the UPA-led central government apprised of the goings-on within Satyam.


source  : economic times

[Kalyan]

C Achutan


The low-profile C Achutan, former presiding officer of the SAT, took complete charge on the legal compliance front.

He was on the top of his portfolio, spending several weeks with legal advisors to vet scores of legal documents and settle issues with regulatory agencies.

"He knew exactly what was required. So, whether it was getting CLB nod or Sebi exemption, we were able to get it done very quickly," said another official.

source  : economic times