The board meeting of Satyam Computers has been convened on December 29, primarily to consider the prospects of buying back the company’s shares after the aborted Satyam-Maytas deal.
However, it is understood that the board members will use this opportunity to review the developments of the past two weeks and decide on a plan of action, including any changes that may be required to regain the lost glory of the company.
Satyam chief Ramalinga Raju may offer not to chair the company’s crucial board meeting. There are indications that he may step down as Chairman.
M Rammohan Rao, Dean of Indian School of Business, who chaired the crucial board meeting which approved the deal to buy the two Maytas companies, is also believed to be considering to quit the Satyam board.