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Satyam has a safe future, reassures new CEO

But Indian government prepares to be sold off

A.S. Murty, the newly appointed chief executive of Satyam Computer Services has assured customers of his company's stability.

"It's business as usual at Satyam," he said while meeting staff, customers and government officials.
Murty's address follows reports that the Indian government is preparing Satyam for sale, as the firm at the centre of India's biggest corporate scandal strives to stabilise its business.

Corporate affairs minister Prem Chand Gupta told reporters in New Delhi on Tuesday rules for the sale of the fraud-hit outsourcer should be ready within the next 10 to 15 days.

Murty was appointed CEO of Satyam on February 5, 2009. The appointment followed the confusion and controversy surrounding the Satyam financial crisis in early January this year after its founder B. Ramalinga Raju said the company's profits had been overstated for several years.

"Satyam has a promising future," said Murty. "We have a world-class roster of clients with whom we enjoy remarkably strong relationships. We have deep industry knowledge and technological and process competencies and our new Board represents some of the best management talent available. Under these circumstances, employee morale continues to be high as we work together to emerge out of this period," he said.



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