A S Murthy New Satyam CEO

Murthy has been with Satyam since Jan 94. It has appointed Homi Khusrokhan and Partho Datta as special advisors to the Board. The board of fraud-hit Satyam Computer Services on Thursday appointed A S Murthy as new CEO of the IT firm. Murthy was Satyam’s global business head and has been working for the IT company for the last 15 years.

Partho S Dutta and Homi Khusrokhan were appointed Special Advisors.

A S Murthy, will be the chief executive of the company with immediate effect, Satyam said in a statement after a two-day board meeting in Hyderabad.

Satyam has also received bank sanctions for 6 billion rupees towards working capital requirements.

Earlier in the day, agencies reported that the Andhra Pradesh police are likely to make more arrests in the Rs 7,800 crore fraud involving the IT major.

CID officials investigating the case have not ruled out more arrests in about a fortnight.

“We are constantly scrutinising the seized documents and trying to retrieve data from the hard-disks and laptops recovered during the raids of residences and offices of Satyam officials including its former chairman B Ramalinga Raju,” a senior CID official probing the Satyam fraud said on Thursday.