India installs new board at Satyam
12-01-2009
The Indian government installed a new board at Satyam Computer Services on Sunday, as authorities stepped up efforts to limit the damage from a fraud that has become India's biggest corporate scandal.The three-member board will meet at Satyam headquarters in the southern city of Hyderabad on Monday to lay out a roadmap for restoring confidence of clients and staff following revelations of a massive accounting fraud, revealed by chairman and founder Ramalinga Raju last Wednesday. Its stock has since been battered and its valuation plunged.
