Satyam clamps curbs on information sharing

HYDERABAD, INDIA: As it begins the bidding process to sell 51 per cent stakes in the company, Satyam Computer Services has clamped restrictions on employees regarding sharing of informations pertaining to the goings-on in the company.

Satyam chief executive officer A.S. Murthy, in a letter to the associates, warned them to think twice before they speak to potential investors, analysts, experts and media on predictions, valuation and forecasts, said a media report.

He said they should conform to the strict, restrictive publicity guidelines laid down by the market regulators in the US and India - Securities and Exchange Commission (SEC) of the U.S. and the Securities and Exchange Board of India (SEBI) - where the company’s shares are listed.

Murthy has also reportedly circulated a list of do’s and don’ts. No employee should post restricted information on the Internet nor initiate any meetings with analysts or securities firms, the circular said.