CLB grants time to Satyam ex-directors to respond

Satyam Computer's three former directors, including former interim CEO Ram Mynampati, today sought more time to submit their replies to the Company Law Board (CLB), which had called for their replies by tomorrow in connection with the scam at the distressed IT firm.

Admitting applications from Mynampati as well as former independent directors Krishna Palepu and Vinod Dham, CLB granted them time till March 31.

Dismissing the board of Satyam Computer on January 9, following a petition filed by the central government, CLB Chairman S Balasubramanian had directed all the 12 parties named as respondents in the petition to submit their replies by February 20.

Besides Satyam's founder and then Chairman Ramalinga Raju and his brother and former CEO and MD Rama Raju, the government had also named the company's CA and auditor Price Waterhouse, Company Secretary as well as all the directors as respondents.

The respondents also included all the independent directors having since resigned from the board, namely Vinod Dham, Rammohan Rao, K G Palepu and Mangalam Srinivasan, as well as former Cabinet Secretary T R Prasad, V S Raju and interim CEO Ram Mynampati.