Spice Group pulls out of Satyam bidding process

The government-appointed board of Satyam Computer Services has ruled out any change in the bidding process, even as the BK Modi-promoted Spice group threatened to pull out of the race to buy the scam-hit firm, citing lack of transparency, according to media reports.

Spice Group has been arguing that the Government-appointed board should go for an open auction process for sale of stake in Satyam. Preeti Malhotra, Executive Director of Spice Innovative Technologies, said "if the Satyam board re-looks at our concerns, then, we will like to be a part of the bidding process".