Satyam to restate accounts in 8-12 weeks

Reuters
Posted: Thursday, Jan 15, 2009 at 1703 hrs IST
Updated: Thursday, Jan 15, 2009 at 1703 hrs IST

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New Delhi: Firms appointed to restate Satyam Computer Services Ltd's accounts will do so in 8-12 weeks and the company will not need any financial help if its receivables come on time, a new board member said on Thursday.

"We are trying our best to salvage ... and large number of receivables are there. If it comes on time, then we can generate assets by hypothecating some assets," Deepak Parekh, appointed to the board by the government, told reporters.

He was speaking to reporters after meeting Montek Singh Ahluwalia, deputy chairman of the Planning Commission and a close aide of Prime Minister Manmohan Singh.

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