Independent Director Mangalam Srinivasan announced her resignation from the board after the company called-off the Maytas Deal. Srinivasan had voted in favor of acquisition of Maytas Infra. Technical Analysts and Industry experts had questioned the role of Independent directors in the decision of Satyam promoters to acquire Maytas Infra.

Satyam stock had lost quite substantially after the deal was announced on concerns of poor corporate governance. Promoters hold nearly 8% stake in the company and institutional investors were not informed about the decision. Many Investors are looking for an exit route after the recent issues.

Satyam Stock touched 52-week low of Rs 114.55 on Wednesday on NSE. Later some pullback was witnessed and the stock closed at Rs 134.65.

The company has also announced Board meeting on 29 December to discuss buy-back plan. On Monday, the stock was trading nearly 5.4% higher at Rs 142 @ 10.07 am.