IT industry body Nasscom announced on Wednesday forming a panel of experts to help budding entrepreneurs build strong software companies.
The government is likely to appoint more directors on the board of the crisis-ridden Satyam Computer Services soon. "More directors will be appointed within two days," a senior official of the Ministry of Corporate Affairs said.
The government's help to the crisis-ridden Satyam Computer Services may include financial support as well, as it is a question of saving jobs and institutional investment, Commerce and Industry Minister Kamal Nath said.
Later Mahindra Satyam said its board of directors has allotted 19.86 crore additional shares to Venturebay, which would take Tech Mahindra's stake to approximately 43 per cent of the outstanding share capital. A Tech Mahindra spokesperson said after the preferential allotment Venturebay's stake in Mahindra Satyam would be 42.7 per cent.
Satyam Computer has 10,000 excess employees, its new owner Tech Mahindra said on Friday.
The meetings with Singh and Ahluwalia have taken place just two days before the announcement of the results of the general elections for the 15th Lok Sabha. Besides Karnik, the other nominees on the Satyam board are HDFC chairman Deepak Parekh, former ICAI chairman T M Manoharan, CII chief mentor Tarun Das, LIC executive S B Mainak and former presiding officer of Securities and Appellate Tribunal C Achuthan.
Early on Monday morning, the chairman of the government-appointed board of Satyam Computer Services, Kiran Karnik, hurried into the Taj President Hotel in south Mumbai to begin one of India's strangest corporate sell-offs.
The National Association of Software and Services Companies on Tuesday urged the Centre to provide the software industry access to the national laboratories like Aeronautical Development Agency for taking up research and development
Scam-tainted Satyam Computer is planning to restate its financial results for the third quarter ended December 2008 by March-end. "Our auditors are working towards this end," a Satyam spokesperson said on Friday, adding that the only caveat to this possibility would be if the auditors decide to restate results of the company over the past several years, which could further delay a clearer picture of the Hyderabad-based IT company's actual financial position.
A top company official said, "We are still waiting to receive any communication from the new board. we might make a presentation to the new board."
India's information technology sector would require nearly 500,000 professionals in the next five years to cater to the growing needs of this booming industry
The $55 billion Remote Infrastructure Management business is on the topmost agenda of an increasing number of Fortune 500 companies and Global 500 enterprises.
Nasscom plans to introduce by this year-end a common certification in terms of skills and knowledge, that matches industry requirement.
"There is a great deal of similarity between the advertising industry and the IT industry. One of them is that they both provide services," Kiran Karnik, former president of Nasscom, said during his address on the first day of Goafest 2008, the three-day meeting of the advertising industry.
Expressing concern over the non-availability of qualified manpower for IT and ITeS companies, Nasscom on Tuesday said by year 2010 the industry would face a shortage of five lakh professionals.
The Board of Mahindra Satyam will meet on July 10 to clear the proposal of Tech Mahindra seeking a second round of preferential share allotment to hike its stake in the newly acquired company to about 43 per cent after an open offer evoked a weak response.
National Association of Software & Services Companies President Kiran Karnik has said that information technology and business process outsourcing industry in India is beginning to see an 'opportunity loss' on account of the rupee appreciation against the dollar.
Fraud-hit Satyam Computer, which will soon have a new owner in Tech Mahindra, has lost about 5,000 employees during September-March period of the past fiscal.
Satyam Computer moved a step closer towards finalising bids for selling a majority stake in the trouble-torn IT company with the board meeting investment bankers on Thursday.
National Association of Software and Service Companies advocated the creation of Special Economic Zones
Here's the latest academic trend for IT aspirants -- finishing schools to transform graduates into career professionals.
Information technology firms that announced a boycott of the city's annual IT exposition protesting poor infrastructure received support from National Association of Software and Service Companies
India is gearing up to tap the huge engineering outsourcing opportunity and position itself as the world's hub for high value design and manufacturing destination, a top Nasscom official said on Monday.
National Association of Software and Service Companies chairman Kiran Karnik has said the Maharashtra government was not promoting information technology in a big way.\n\n\n\n
The National Association of Software and Service companies has appointed S Ramadorai, chief executive officer, Tata Consultancy Services as the chairman of Nasscom for the year 2005-06.
The 41st convocation of Saurashtra University turned out to be a perfect platform for the Gujarat chief minister to make a case for English proficiency in the state.
Infotech publication Dataquest has chosen Tata Consultancy Services CEO Subramaniam Ramadorai as the 'IT man of the year 2004' and Indian Railway Catering and Tourism Corp for its 'pathbreaker award' for the same period.
The national association of software and service companies in India has sought partnership with chartered accountants in the areas of information security and data privacy.
Industry body Nasscom is in the process of setting up of an independent self regulatory organisation, which will establish, monitor and enforce privacy and data protection standards for the ITES and BPO industry in the country.
Nasscom will float a Rs 100 cr fund to help individuals and small companies in setting up and innovating their business. Tata Consultancy Services, Bharti Airtel Ltd and ICICI Knowledge Park to be key investors.
IT firm Tech Mahindra on Monday deposited Rs 2,910 crore (Rs 29.10 billion) for 51 per cent controlling stake in Satyam Computer.
India's software export target of $60 billion by 2010 will not be revised despite rupee appreciation, but the profitabilities of small IT companies and BPO sector are bound to suffer, Nasscom said on Wednesday.
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