The top leaders of Satyam Computer Services have launched an immediate action plan to ensure business continuity and leadership transition even as it initiates efforts to ascertain its liquidity position and verify allegations by its Founder and Chairman Ramalinga Raju of financial irregularities.
Satyam's leaders announced, at a press conference at the IT services company's headquarters in Hyderabad, that the company has started to actively reach out to customers globally. The leaders said that they are heartened to receive strong expressions of confidence and support from customers.
He also announced the following company's action plan going forward:
- Active outreach to global clients even as customers affirm support and confidence.
- Senior management pledge to stay with the company.
- Sent message of assurance to approximately 53,000 associates.
- Will consider appointment of an audit company for immediate investigation into allegations by Founder Chairman Ramalinga Raju and to establish position of cash and bank balances.
- Seeks nominations from regulators and industry associations for candidates for board.
- Recognizes need to strengthen corporate governance and cooperate with investigations by regulatory authorities and address legal issues.
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