Satyam staff heaved a sigh of relief on conformation of payment of their salaries by the board. The board though has not yet zeroed in on their choice of the CEO and the CFO for the beleaguered software giant. However the board has roped in the services of Boston Consulting Group and Goldman Sachs, Avendus. The former will work closely with key Satyam personnel in the capacity of management advisors, while the latter will act as Investment Bankers for Satyam. On the probability of an acquisition T.N. Manoharan who chaired Tuesday's meeting said “the board has received several proposals from corporate entities as well as from select PE firms. Some have shown interest in evaluating Satyam as an integrated entity, while others in portions of Satyam’s business. A sale of ‘parts’ of Satyam at this stage would be contrary to the mandate of regulating the affairs of Satyam as a going concern, as stipulated by the government of India. It is therefore not an option that is being evaluated currently.”
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