AgenciesNew Delhi: The new Satyam board will announce its new CEO and CFO by tonight. "The government has zeroed in on two persons of eminence to be appointed as the CEO and the CFO," he said.
The person appointed will not be called a CEO because of involvement of certain legal implications, Gupta said.
He added that the person to be appointed as CEO has worked in an Indian multinational company earlier.
The government also is working on legalities to provide legal immunity to the newly appointed CEO and CFO so that they are not held responsible for Satyam's liabilities. "Nobody will like to join a company in controversy and, therefore, the modalities of providing legal immunities are being worked out and the appointment of the CEO and the CFO will be done soon," he informed.
As regard better compliance by corporates, he said, "We need better enforcement, better compliance, and better mindset...So that the government is not forced into bringing additional laws and create unnecessary problems."
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