Concerned that India Inc's image will be dented by the Rs 7,800-crore Satyam [Get Quote] financial fraud, senior industry leaders will meet Prime Minister Manmohan Singh on Monday and are likely to discuss ways to take urgent corrective measures.
Former CII president R Sashsayee, Jamshed Godrej [Get Quote] of the Godrej Group and Suresh Neotia, Chairman of the Gujarat Ambuja [Get Quote], will be among the small group of industrialists meeting the prime minister.
Besides the Satyam saga, the World Bank has initiated action against five Indian entities, including Wipro [Get Quote] Technologies, for violating the guidelines of the multilateral lending agency on checking fraud and corruption.
On the Satyam issue, the industry has overwhelmingly welcomed the intervention of the government as it has disbanded the earlier board of the troubled IT firm and constituted a new one.
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