Bail out package for Satyam soon: Kamal Nath
13 Jan 2009, 1427 Hrs

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New Delhi, Jan.13 The troubled information and technology company Satyam,may get a revival package to keep itself afloat a amidst severe financial crisis.

The Union Commerce and Industry Minister, Kamal Nath has said that the Government may consider a bail out package to save the jobs of thousands of the company's employees, and also save the institutional investors from massive financial losses.

"The government will consider all aspects in helping the troubled IT Company, once it receives firm proposals from the newly constituted board," Kamal Nath said.

Meanwhile, Prime Minister Manmohan Singh met SEBI Chairman C.B. Bhave and other senior government officials to review the situation arising out of the Satyam fiasco.

Singh has asked the Cabinet Secretary K.M. Chandrasekhar to co-ordinate the different steps being taken to help the company overcome the crisis.

In other related development, the Corporate Affairs Minister Prem Chand Gupta has said the government will soon appoint more directors to the board of Satyam Computers. (ANI)