Asian Paints, Cipla, Bharat Forge, Dabur India, Nicholas Piramal and Satyam Computer Services are among the 20 Indian corporate entities that have found place in Forbes' list of 'Best Small Asian Companies'.
There were also reports that the board might opt for an open bidding process, which will bring in the much-required funds into the company. The board will also insist that only companies with a good track record can bid for the company. However, this could not be confirmed.
IL&FS, which, along with IFCI and Sicom, had extended loans to the Raju family against shares of Maytas Infra, has asked the government to supersede the board of the Hyderabad-based company.
Bhupendra Kumar Modi of Spice Corp on Thursday sent an expression of interest to the new Satyam Computer Services board to acquire the fraud-hit company.
Employees of Satyam Computer Services are in a quandary over looking for jobs outside the company. Some admit that consultants are offering them jobs, but at salaries that are almost half their current cost-to-company packages. Many others are running into a dead-end given the poor job market.
Employees of Satyam Computer Services are in a quandary over looking for jobs outside the company. Some admit that consultants are offering them jobs, but at salaries that are almost half their current cost-to-company (C-to-C) packages. Many others are running into a dead-end given the poor job market.
Corruption is an endemic part of the system, so why should Satyam be subject to higher ethical standards by auditors, bankers, etc. than some other company?
IT services provider Satyam Computers Services Ltd said on Monday it has entered into an agreement with The University of Melbourne for enabling students of the varsity to do software development internship with the company each year.\n\n
The government has suggested that the new Satyam Computer Services board should also look within the company to appoint a CEO and CFO.
After resuming trading on Monday, shares of Satyam plummeted 84 per cent to close at $1.46. It had touched its intra-day low at $0.78. Asked if the NYSE will issue a notice for possible delisting of the company for shares dipping below $1, NYSE spokesperson told PTI in an e-mailed statement, "No, the average closing price of a security must be less than one dollar over a consecutive 30 trading-day period.
In an e-mail interview to Assistant Managing Editor Indrani Roy Mitra, chairman of National Association of Software and Service Companies, Ganesh Natarajan discusses the issues related to the Satyam debacle.
There are very few takers for B Ramalinga Raju's astounding claim that the margin earned by Satyam in the quarter ended September 2008 was just 3 per cent, and not 24 per cent as reported in the results.
It may be the end of a boardroom for life for Ram Manyampati, the interim chief executive officer of Satyam Computer Services and the two independent directors T R Prasad and V S Raju.
Bharatiya Janata Party leader and Investors' Greivance Forum chief Kirit Somaiya has meanwhile filed a criminal complaint against Satyam and demanded that all transactions that have been conducted (after Raju admitted the fraud committed by him) must be reversed today (Friday, Jan 9) before 3 p.m. on the stock exchanges.
Satyam Computer Services has formed a new team to look into its day-to-day affairs, following the resignation of its chairman Ramalinga Raju.
The 10 accused in the case include prime accused Satyam Computers founder and former chairman B Ramalinga Raju, his brother and Satyam's former MD B Rama Raju, ex-CFO Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju's another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam, and Satyam's former internal chief auditor V S Prabhakar Gupta.
"I am of the view that resigning from the board now is like deserting a troubled ship. We should remember Satyam is a major player in global IT space, employing well over 50,000 of the best and the brightest of professionals, with vendor commitments to several global corporates and entities," said Satyam's independent director T R Prasad.
The stake of B Ramalinga Raju's family in Satyam Computer Services may have come down to just around four per cent from 8.61 per cent of the equity of Rs 134.10 crore as at the end of March 2008.
Satyam Computer Services Ltd on Tuesday said it is providing a free data management solution, as well as IT services to 'Project Hope' in China.\n
In a major initiative expected to give a big boost to its consulting and enterprise business applications space, Satyam Computer Services Ltd on Friday announced the launch of 'Futurus', a state-of-the-art business solutions laboratory in Chennai.
Satyam Computer Services Ltd has set up a 25-member specialised team at Singapore to provide support to its high-end outsourcing projects in Asia-Pacific region, global IT services provider.
Satyam Computer Services has announced enrollment of over 136 employees in the graduate management and MBA programmes offered by online graduate school Universitas 21 Global.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
Satyam Computer Services and Sun Microsystems India on Wednesday have announced the launch of the Satyam customer solution centre on Sun Technologies.
Nissan has signed a five-year-deal with Satyam Computer Services Ltd to enhance its key North America business portfolio.
Global consulting and IT giant Satyam Computer Services on Thursday announced plans to launch its largest global delivery campus outside India in the eastern Chinese city of Nanjing
Satyam Computer Services Limited on Friday signed a memorandum of understanding with West Bengal Electronics Industry Development Corporation Limited for setting up its development centre in Kolkata.
Satyam Computer Services Ltd is launching an automotive development centre in Detroit to consolidate its base in the automotive industry.
The BPO arm of Satyam Computer Services, Nipuna has set up a BPO facility at Chennai.
Satyam Computer Services and Microsoft China signed a memorandum of understanding to jointly develop the enterprise solutions market in China.\n
The seven-year deal will enable integration of support functions and build best-in-class organisational processes for the bank.
More and more domestic companies are setting up business process outsourcing units in district headquarters, tier-III cities and non-IT clusters to save on real estate costs and stem attrition rates.
Leading Indian and global information technology firms such as Tata Consultancy Services (TCS), Cognizant Technology Solutions, IBM, Satyam Computer Services and Wipro top the list of L visa users for the financial year 2006-07.
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