Tech Mahindra, the new owner of Satyam Computer Services, is exploring option of restating accounts of the beleaguered IT firm for the past one year, instead of the preceding six years. This would enable Satyam to participate in tenders for projects that need proof of financial viability. Global audit firms KPMG and Deloitte were given the mandate to restate Satyam`s accounts, after the firm`s defamed founder confessed to inflating profit by fudging the books. 'We need to re-state accounts speedily to be able to participate in request for proposal (RFP) on tenders that require proof of financial viability. While it is not required for all RFP`s, it varies from company to company. A proof of financial viability, for instance, is required for all Indian government and public sector projects,' said Tech Mahindra vice-chairman, managing director and CEO Vineet Nayyar. Mr Nayyar is set to join the Satyam board after the requisite regulatory approvals are obtained.
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