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Satyam Saga

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As all are aware of the Satyam Saga. But there is a good news for Satyam employees that some one is really keen to save satyam's as well as its employees interests. As engineering major Larsen & Toubro (L&T) continues to be interested in acquiring Satyam Computer Services. L&T, which is one of the largest shareholders of Satyam, is not interested in being a spectator in the ongoing saga. So its really a good news for both its employees and nono-employees. As we all know Satyam is India's 4 largest IT giant.

Government is also concerned about Satyam saga, and also taken some steps for the same. But I guess they are not so effective as the need of the hour. Mr Naik also expressed his opposition to any IT company taking over the troubled Hyderabad-based company, citing conflict of interest. Many other companies breaking its top management employees. The company, which owns 4% in Satyam, is believed to have approached top government officials saying it has an action plan to save the software-maker.

But, with the board planning to appoint investment bankers, who will examine the option of inducting a strategic partner, it is unclear if the government will directly interfere in the process. Any potential buyer, including L&T, may have to participate in the formal process conducted by the board.

L&T is worried that Satyam’s rivals are working overtime to win over its top notch customers and clients. “Unless something is done now, it may be too late for Satyam,” he added. So I am feeling so happy about that finally some one is seriously concerned about Satyam saga.
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