Ram Mynampati in US, says Satyam spokesperson

January 7th, 2009 HYDERABAD - Global clients of the beleaguered Satyam Computer Services will engage the scam-tainted IT bellwether for its software services, the company's interim chief executive Ram Mynampati said Thursday. 'We have received support from our key customers.

January 14th, 2009 HYDERABAD - Fraud-hit Satyam Computer Services Thursday denied that its top executives had fled the country. The IT bellwether termed as 'malicious' reports in a section of media that its executives Ram Mynampati, Virender Aggarwal and Keshab Panda left the country to avoid questioning by authorities investigating the Rs.70 billion ($1.43 billion) fraud.

January 14th, 2009 NEW DELHI - A senior executive with Satyam Computer Services has told the government that the fraud-hit company needs at least Rs.150 crore (Rs.1.5 billion or $30 million) to take care of the health insurance liabilities of employees in the US. Economic Affairs Secretary Ashok Chawla said that the request was made in a mail from Ram Mynampati, who is in the US to speak with the clients of Satyam Computer Services and reinstate their confidence after the Rs.70 billion ($1.43 billion) scam admitted by its founders.

January 6th, 2009 HYDERABAD - Directors of the beleaguered IT major Satyam Computers Wednesday expressed shock the admission of founder-chairman B. Ramalinga Raju to committing a fraud to the tune of Rs.40 billion (Rs.4,000 crore or $823 million) before he resigned, along with Managing Director Rama Raju.

January 7th, 2009 HYDERABAD - Chief financial officer (CFO) Vadlamani Srinivas of the tainted Satyam Computer Services Ltd resigned from the IT bellwether a day after founder chairman B. Ramalinga Raju quit admitting to a massive financial fraud, a top company official said Thursday.

January 9th, 2009 HYDERABAD - Scam-tainted IT bellwether Satyam Computer Services Ltd late Friday welcomed the central government's move to appoint 10 nominees as directors to replace the current board. 'We welcome this decision which will ensure uninterrupted operations and restore the confidence of all employees, customers and shareholders across the globe,' the Hyderabad-based company said in a statement.

January 7th, 2009 HYDERABAD - The new management team of the tainted Satyam Computer Services is looking for a strategic investor to bail it out from the severe liquidity crisis it is facing in the wake of the financial fraud admitted by founder chairman B. Ramalinga Raju, the company said here Thursday.

January 6th, 2009 HYDERABAD - The besieged board of Satyam Computer Services Ltd will meet Saturday to discuss the various issues that rocked the IT bellwether since the Maytas deal fiasco Dec 16, culminating in the dramatic resignation of its co-founders who admitted to a massive revenue fraud in the company over the years. 'The board will meet as re-scheduled on Jan 10 to discuss the issues related to the company’s operations and the fallout of today’s events and actions thereby,' Satyam interim CEO and whole-time director Ram Mynampati said in a statement here late Wednesday.

January 7th, 2009 HYDERABAD - Ten top executives of the tainted Satyam Computer Services Ltd late Thursday pledged to remain with the company and work jointly to steer the IT bellwether, reeling under shocking disclosures of financial fraud by its founder chairman B. Ramalinga Raju.

January 6th, 2009 HYDERABAD - Battered IT bellwether Satyam Computer Services Ltd Wednesday formed a crack team to run the day-to-day operations of the beleaguered company following the dramatic resignation of its founder-chairman and managing director from the board. In a letter to Satyam’s 53,000 employees, interim CEO and whole-time director Ram Mynampati said a ‘SWAT’ team consisting of senior leaders has been formed to steer the company through the current challenging phase.

January 12th, 2009 NEW DELHI - A parliamentarian had raised the issue of irregularities in Satyam Computer Services way back in 2001 but then Andhra Pradesh Chief Minister N. Chandrababu Naidu and the National Democratic Alliance (NDA) government had ignored the matter, the Congress party said Tuesday.

December 22nd, 2008 NEW DELHI - The World Bank has said it has banned leading software vendor Satyam Computers from all business at the bank for a period of eight years - and that the ban started in September, according to a US broadcaster. The World Bank move came after bank investigators discovered that spy software was covertly installed on workstations inside the bank's Washington headquarters - allegedly by one or more contractors from Satyam Computers, broadcaster Fox News said.

February 2nd, 2009 HYDERABAD - The government-appointed directors of Satyam Computer Services will meet here Wednesday for the fifth time in three weeks to take forward their search for candidates for top positions and a strategic investor or outright buyer for the cash-starved company. The meeting is being held against the backdrop of reports that several major companies were exploring option of taking over Satyam, the country's fourth largest software exporter.

January 8th, 2009 HYDERABAD - India's market regulator Friday summoned B. Ramalinga Raju, disgraced founder of Satyam Computer, to appear before it Saturday as it began a probe into his Rs.70-billion (Rs.7,000-crore) accounting fraud, even as the Andhra Pradesh police began an enquiry.

January 7th, 2009 HYDERABAD - Satyam Computer founder-chairman B. Ramalinga Raju, whose whereabouts are not known after his shocking admission of massive financial fraud, is in the city and has no intention to avoid the process of law, his lawyer claimed Thursday even as a top company official said they did not rule out filing a criminal case against him.