India's Satyam says Saturday board meet still on | business | Hindustan Times
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India's Satyam says Saturday board meet still on

A board meeting of Satyam Computer Services scheduled for Saturday to consider various measures was still on, a company spokeswoman said on Wednesday after the chairman had resigned.

business Updated: Jan 07, 2009 14:17 IST

A board meeting of Satyam Computer Services scheduled for Saturday to consider various measures was still on, a company spokeswoman said on Wednesday after the chairman had resigned.

"As of now, it is still on," the spokeswoman told Reuters. "If there's any change we will let you know."

The chairman and founder of embattled Satyam resigned and said the company's profits had been inflated over the last several years, sending the stock down more than 80 per cent.

Satyam's board is due to consider options, including a share buyback, to placate investors who were angered by the outsourcer's botched attempt to buy two infrastructure firms in which the management held stakes.