Satyam Computer Services, the scandal-plagued outsourcing company that has been dubbed ‘India’s Enron’, has hired New York’s Wachtell Lipton Rosen & Katz to defend it from US litigation.
The company’s board of directors announced the retention on Thursday (5 February) at the same time it named company veteran AS Murthy as Satyam’s new chief executive. Murthy succeeds disgraced founder Ramalinga Raju, who stunned the Indian business community last month when he admitted he had falsified the company’s accounts for years, inflating profits and creating a fictional cash balance of around RUP50bn (£700m).
