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Rediff.com  » Business » IT-BPO union wants to halt Satyam sale

IT-BPO union wants to halt Satyam sale

April 07, 2009 18:14 IST

A union of IT and BPO workers has written to the Election Commission to halt the sale process of fraud-hit Satyam Computer until a new government takes over and current investigations being carried out by CBI reach a logical conclusion.

"We have asked Election Commission to intervene and shelve Satyam's sale process until a new government takes over and current investigations being carried out by the CBI reach a conclusion," general secretary of the union 'Unites' Karthik Shekhar said in a letter to the Chief Election Commissioner of India N Gopalaswami.

The government-appointed board of Satyam is expected to announce a new owner of the company this very month.

Shekhar has cited the scandal-hit company's legal liabilities and other ambiguities as deterrents for any potential bidder to carry out an effective due diligence process.

He said, "After Spice group withdrew from bidding process alleging lack of transparency in the modus operandi of stake sale process, we appealed to the Election Commission to invoke the code of conduct and intervene in the interest of the people."

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