Satyam board ciculates video clips asking for support

In a bid to improve its relationship with its associates and other stakeholders, the board of fraud-hit Satyam Computer Services is circulating a video message asking for support from associates.

In a bid to improve its relationship with its associates and other stakeholders, the board of fraud-hit Satyam Computer Services is circulating a video message asking for support from associates.

HT Image

"There is a huge liquidity crunch in the company and till the accounts are restated, it is very difficult for banks to lend money. But we made arrangements and I hope the money comes in the next few days, so that, payments are made on time," Deepak Parekh, a member on the government-appointed board, said in the video clipping.

Sources said, though the board had not met officially on Monday, since January 26 is Republic Day, the members were engaged with some of the prospective lenders to overcome the financial problems.