Satyam Computer Services has started getting back on to its feet, with the appointment of a chief executive and the lifeline of a $130-million bank loan.
AS Murthy has been appointed as the new chief executive. He has worked at the company for the past 15 years and is currently a senior vice-president.
The $130-million bank loan will assist the company to meet its cash flow needs, especially payroll.
Satyam has been rocked by a $1-billion fraud scandal uncovered early this year.
So far, the company's founder, two other executives and two auditors from Price Waterhouse have been arrested in connected with the fraud.