Tuesday, February 3, 2009

Satyam salary in two parts for overseas employees

Satyam to pay the February month salary to its India employees by this month end, however the overseas employees will get the salary in two tranches- one in mid of February and the other by this month end.
How much is needed for Satyam to pay for its employee salary ?
Sources say that around Rs 500-600 crore is needed per month to meet salary payments. Not sure how this will be handled, as the question arises, how the scam hit company will meet this.
Any liabilities ?
Any hidden liabilities, are as yet unknown. There are other expenses such as rentals, TDS, insurance, arrears to vendors etc excluding the salary to employees.
Satyam's asset :
The major advantage of Satyam is its huge land bank. Satyam has got huge unencumbered assets in the form of a land-bank. Along with the Satyam Training Centre, it has around Rs 1,500-to 1,700-crore worth of property in Hyderabad which can be mortgaged to raise funds.

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