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INFO-TECH
STOCKS:
Satyam spooks market
Sensex sinks 750 points. Mumbai, Jan. 7 In a unique case of upheavals at a single company pulling down the Indian stock market, Wednesday’s disclosures by the founder-Chairman of Satyam Computer Services rocked the equities market, sending ...
ECONOMIC OFFENCES:
‘It was like riding a tiger’
Satyam chief’s letter talks of ‘tremendous burden’ on his conscience. Following is the text of the letter Satyam Computer Services Chairman, Mr B. Ramalinga Raju, wrote to the company’s board. Copies of the letter were ...
HUMAN RESOURCES:
Bolt from the blue for staff
Hyderabad, Jan. 7 It was like a bolt from the blue for the staff of Satyam Computer Services as the news of Chairman Mr B Ramalinga Raju’s resignation for faking numbers broke out. Not that the staff were not expecting something ...
SOFTWARE:
Gupta talks tough, wants RoC to submit report on Satyam in a week
New Delhi, Jan. 7 Taking a tough stance, the Ministry of Corporate Affairs (MCA) has directed its field office to submit in a week’s time the report on the financial irregularities disclosed by the promoters of Satyam Computer ...
INTERVIEW:
‘Corporate governance is about principles, mindset’
Adverse impact on Indian vendors unlikely: Narayana Murthy. Bangalore, Jan. 7 The Chairman and Chief Mentor of Infosys Technologies Ltd, Mr N.R.Narayana Murthy, who has led key corporate governance initiatives in the country, feels that ...
INSIGHT:
Satyameva jayate!
How apt! Truth, or Satyam, has finally prevailed. But sadly, the rather inaptly named Satyam Computer may not survive the gigantic fraud committed by its own progenitor, Mr Ramalinga Raju. The unravelling fraud, only ...
SOFTWARE:
Price Waterhouse hides behind client confidentiality
ICAI to probe role of statutory auditor. New Delhi, Jan. 7 Close on the heels of Satyam Computer Services Chairman, Mr Ramalinga Raju’s admission of revenue overstatement and inflated profits, the Institute of Chartered Accountants of ...
SOFTWARE:
Chronology of a downfall
...
SOFTWARE:
Amid the success, the truth was elsewhere
THE HOUSE THAT RAJU BUILT. Hyderabad, Jan. 7 After a steady journey of 20 years, from an early start-up in Hyderabad to a global $2.5 billion corporation, Satyam Computer has, in a dramatic turn of events, landed itself at the crossroads, with ...
SOFTWARE:
Shocked at Satyam affair, chambers call for blocking corporate loopholes
Biz bodies say move to stop erosion of confidence necessary. Hyderabad/New Delhi, Jan. 7 India Inc has expressed shock and disbelief at the Satyam episode, stating that loopholes must be plugged in regulation, audit and governance to restore the ...
SOFTWARE:
Industry seeks thorough probe
‘Due diligence will get tougher, efficiency to be hit’. Chennai/Bangalore, Jan. 7 Peers of Satyam Computers such as Infosys, Wipro and Cognizant are shocked and dismayed over Wednedsay’s revelations of chairman Mr B. ...
SOFTWARE:
Poser on Raju’s confession after share sale by IL&FS
Did lenders have prior knowledge of trouble?. Mumbai, Jan. 7 The timing of Mr Ramalinga Raju’s confessional statement admitting to a Rs 7,000-crore fraud in his company has raised several eyebrows among the ...
SOFTWARE:
Satyam’s smaller businesses ‘still attractive’
Mumbai, Jan. 7 The sensational disclosures of Satyam’s Chairman Mr B. Ramalinga Raju could deter competitors and private equity firms from looking at the Hyderabad-based company as a target for ...
OUTLOOK:
Forrester sees delay in sales cycle
Advisors anticipate large-scale client exodus from Satyam. New Delhi, Jan.7 The Satyam scandal, which has shaken up corporate India, could not have come at a worse time for the troubled Indian IT ...
IT TRAINING:
ICT academy to be set up in Thiruvananthapuram
Confirming the development, Dr Ajay Kumar, Secretary-Information Technology, Government of Kerala, told Business Line that the proposed academy would be set up in Thiruvananthapuram. It will offer programmes that will ...
SOFTWARE:
‘Unjustifiable damage to Brand India, Brand IT’
Mumbai, Jan. 7 India Inc reacted with shock and dismay to the latest twist to the Satyam Computer Services episode on Wednesday when the chairman, Mr B. Ramalinga Raju, admitted to financial wrongdoing in ...
SOFTWARE:
Satyam’s loss is others’ gain
Stocks of Infosys and Wipro move up despite IT tumble. Mumbai, Jan. 7 IT stocks were hit on Wednesday as Satyam Chairman and promoter Mr Ramalinga Raju admitted to a Rs 7,000-crore fraud in the company’s balance sheet, sending the market ...
SOFTWARE:
An enigma, hero and one with a secret agenda
Hyderabad, Jan. 7 When this correspondent sat down to interview him after Satyam Computer Services announced second quarter results on October 17, 2008, Mr B Ramalinga Raju, the Founder-Chairman, had asked, “why are markets behaving ...
SOFTWARE:
Aberdeen, SFC offload shares
Mumbai, Jan. 7 FIIs such as Aberdeen Group and Swiss Finance Corporation sold part of their stake in Satyam ...
HUMAN RESOURCES:
Shattered dreams, uncertain future
SATYAM SHOCKER. Hyderabad, Jan. 7 The bylanes next to the tall imposing building of Satyam Computer Services in the heart of the city which usually buzz with activity wore a deserted look on ...
PEOPLE:
Independent Directors ‘stunned’
Visakhapatnam/Hyderabad Jan. 7 The dramatic exit of Mr B. Ramalinga Raju, Chairman of Satyam Computer Services, has come as a shock to Mr T.R. Prasad, an Independent Director on the board of ...
SOFTWARE:
‘Stand-alone’ case of failure: Nasscom
New Delhi, Jan. 7 The National Association of Software and Services Companies has termed Satyam incident as a ‘stand-alone’ case of failure of corporate governance, and expressed hope that it would not be viewed as a reflection on ...
SOFTWARE:
Chief Minister orders CB-CID probe
New Delhi, Jan. 7 Terming the Satyam episode as “mind-boggling,” the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, today said he has ordered an inquiry into the criminal aspects of ...
SOFTWARE:
Seven jobs for Raju
The hottest glasshouse that is getting stoned is Satyam’s, and we have already lost count of the number of fingers getting pointed at Raju, if the flow of opinions about the big, hairy and audacious corporate fraud is any ...
SOFTWARE:
Simple manipulation of revenues & earnings
Chennai, Jan. 7 Just what exactly is the financial/accounting manipulation of Mr ...
INFORMATION TECHNOLOGY:
Part and parcel of IT
Now, a hand-held device to speed up the courier delivery process.. We’ve all been through this. The courier delivery man rings the bell to hand over a cover/parcel. To confirm delivery, he asks you to sign on the acknowledgement slip and ...
HUMAN RESOURCES:
Interview insights
...
INTERVIEW:
`Clients now ask probing questions'
Any views on mergers and acquisitions (M&A)? Most Indian companies have that kind of cash. Any more on the horizon such as HCL ...
INTERVIEW:
Exciting software times ahead
Kuliza Technologies sees software product development moving beyond financial domains.. Taking time off from the recent PanIIT conference in IIT-Madras are three senior IIT-ians, busy discussing with Business Line important issues such as ...
TECHNOLOGY:
LED by innovation
Light Emitting Diodes could take over from CFL in the future.. Are electricity costs pinching your wallet? Do you clench your teeth every time your child leaves a light switched on unnecessarily in an empty room? Take heart, for innovation is ...
INTERNET:
Is the Internet addictive?
An update on changing definitions.. There is no denying that the Internet tops the spot in our lives today. From virtually instant e-mails to reading chapters from an online book or taking up a course using MIT’s Open Course Ware, the ...
BOOKS:
Men who made IT happen
...
INTERVIEW:
Explore Google
Much of what you do in a day depends on Google. “But there’s so much more that people can do with Google. Most users haven’t explored the entire spectrum of search areas within Google,” says Alok Goel, Product ...
E-MAIL:
Try this route
Slow Internet connections needn’t be a problem any more if Rediff.com India Ltd is to be believed. Its new ‘Web-in-mail’ service is a way to access the Internet in your mail. “Web-in-mail will let people ...
CYBER QUEST:
Quiz
V.V. Ramanan. 1. What is the name of the new computer by Dell that many experts believe will rival Apple’s MacBook ...
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