Kiran Karnik ‘s comment about Satyam’s state

Mr.Karnik, who is a former Nasscom president said that Satyam computers did require grants from the government or any bail out package

On Monday, government sources indicated that they would bail out the company but CNN-BN has learnt that it will only play facilitator, organising short-term loans which Satyam desperately needs.

“We are discussing with the government and the Law Board as to whether in this situation we can defer them,” says Mr.Karnik

Karnik admitted that the IT giant is short of cash reserves and there is an immediate need to get some money to ensure the smooth functioning of Satyam.
In the current circumstances the regulators might excuse them, but the bigger issue is really funds.

With the government bailout looking bleak, the company might have to turn to big investors like ICICI, LIC and HDFC for a loan to tide over.