Satyam expects to have new owner soon

05 March 2009

A company board member of India's Satyam Computer Services said the firm, which was caught up in the biggest fraud case in the country's corporate history, will have a new owner by the end of April, reported Gulf News. The IT vendor has been facing financial turmoil since its founder B. Ramalinga Raju admitted to inflating the company's financial books by over $1bn and profit-tampering over a four-year period. The Indian government has stepped in and appointed six board members to take the company through this downturn.

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