HIGHLIGHTS - Satyam Computer media conference

Thu Jan 8, 2009 7:31pm GMT
 
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HYDERABAD, India (Reuters) - The interim CEO and other senior executives of Indian software firm Satyam Computer, which has been hit by a financial scandal, spoke to media in the southern city of Hyderabad on Thursday.

Ramalinga Raju, the chairman of Satyam, resigned on Wednesday saying that profits had been falsely inflated for years, sending the company's shares plunging nearly 80 percent.

Following are highlights of interim CEO Ram Mynampati's comments at the media conference, which ran for more than an hour.

BUSINESS AND INVESTIGATION:

"I stand in front of you today shocked by the disclosures and recognising fully the severity of the issues."

"Our only aim at this time is to ensure that the business continues."

"I, along with other members of the board, received reports and data that were audited and verified by a leading accounting firm. We relied on that data."

"Obviously, the most important activity is to assure the world that we are committed to ascertain the facts of the case and help investigating agencies in their process. The leadership team is committed in making this happen."

"Some regulatory bodies have already started their work and we will continue to work with them closely."  Continued...

 
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