India’s company law board said it has deferred to a July 6 decision to recall government-appointed directors at Satyam Computer Services, which is now called Mahindra Satyam, reports The Wall Street Journal.
Four directors will be recalled, instead of the entire six originally reported, said S. Balasubramanian, chairman of CLB, a quasi-judicial body.
“The government has asked us to recall four directors. The relevant orders will be passed Monday,” he told Dow Jones Newswires.
In January, the CLB, acting on a request from the government, replaced the then-Satyam directors with six of its own after founder B. Ramalinga Raju said he had overstated the company’s profits over several years and created a false cash balance of more than $1 billion.