Satyam says two more directors resign

CIOL Bureau
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BANGALORE,INDIA:  Two more independent directors of Satyam Computer Services have resigned, the Indian outsourcer said on Monday, two weeks after the firm's botched attempt to buy construction firms in which its management held stakes.


India's No. 4 software services exporter said in a statement to the exchanges Krishna Palepu and Vinod Dham have resigned from the company's board effective Sunday. The outsourcer did not give any reason for the resignations.

Last Friday, Satyam had announced the resignation of independent director Mangalam Srinivasan.

Satyam postponed a board meeting on Monday to Jan. 10 to give itself more time to consider options to shore up investor confidence that took another knock last week after news it has been barred from doing business with the World Bank.