Three independent directors of the beleaguered Satyam Computer Services have resigned from the company's board on Friday.
The latest to tender his resignation was Mendu Rammohan Rao, dean of the Indian School of Business, sources close to Rao told Business Standard.
Earlier in the day, Satyam announced the resignation of two of its directors, Krishna G Palepu, non-executive director, and Vinod K Dham, non-executive and independent director.
"I just now came to know about the resignation of the two directors ( Palepu and Dham) like you people got it. I don't want to make any further comments," another Independent director of the company VS Raju said.
With Mangalam Srinivasan resigning from the company's board on December 25, only two independent director -- VS Raju and TR Prasad -- now remain on the Satyam's board.
Commenting on the resignation of Dham and Palepu, Satyam's founder and chairman B Ramalinga Raju said, “We would like to thank them for their valuable contributions while serving our board.”
He added that amongst other items that were being taken up for consideration in the board meeting scheduled on January 10, 2009, reconstitution of the board will be an important one.