Indian Prime Ministerial Candidate L.K. Advani pledges to leverage IT in social, financial, administration, health and educationMarch 14th, 2009 NDA to use information technology for development: Advani
NEW DELHI - BJP's Prime Ministerial candidate Lal Krishna Advani on Saturday said that, if voted to power, his government would use Information Technology as an important tool to bring about drastic changes in various fields. "If the country gives us an opportunity then we will utilize the IT in social, financial, administration, health and educational fields," Advani said.
Australian Software Giant Telstra Dumps Scandal-ridden Satyam, Cancels 32 Million dollar dealMarch 17th, 2009 Telstra cancels 32 m dollar deal with Satyam
MELBOURNE - Australian software major Telstra has dumped scandal-ridden outsourcing partner Satyam from an applications support contract believed to be worth 32 million dollars a year. EDS will pick up the embattled Indian outsourcing firm's IT contracts with Telstra, sources told The Australian.
Markets watchdog to tighten disclosure norms for promotersJanuary 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge their shares with lenders, finding lapses during investigations into the Rs.70-billion scam in Satyam Computer Services. 'The founders must disclose shares with lenders,' C.B.
Satyam pulls out of Oz university development projectSeptember 11th, 2009 MELBOURNE - Mahindra Satyam has pulled out of a 75 million dollars software development project at Deakin University that was set to create 2000 jobs in Geelong, Victoria. The company's president of corporate affairs, Sujit Baksi, informed the state government of its intention in a letter to IT minister John Lenders.
Markets watchdog to tighten disclosure norms for promotersJanuary 20th, 2009 MUMBAI - India's markets watchdog Wednesday decided to tighten the disclosure norms for company promoters who pledge shares with lenders, finding lapses during its probe into the Rs.70-billion Satyam Computer Services scam. 'The founders must disclose shares with lenders,' C.B.
Advani ads on 2,000 websitesFebruary 14th, 2009 NEW DELHI - To promote its prime ministerial candidate L.K. Advani, the tech savvy Bharatiya Janata Party (BJP) has put out five ad campaigns on 2,000 websites, including those of the US, British and Pakistani media, which are frequented by Indians.
India Inc demands stricter norms following Satyam scandalJanuary 6th, 2009 NEW DELHI - Shocked by the revelations of Satyam co-founder and chairman B. Ramalinga Raju that the software services firm had overstated profits and hidden liabilities in a Rs.40-billion scandal, leading industry lobbies called for stricter corporate governance norms.
Tech Mahindra in talks with Satyam's Australian clients to salvage reputationJune 25th, 2009 MELBOURNE - Tech Mahindra, which took over scandal hit Satyam Computer Services, will hold high-level talks with key Australian corporate clients of the troubled IT firm in a bid to salvage the reputation of the company. National Australia Bank is one of the key customers Tech Mahindra executive vice-chairman Vineet Nayyar will be meeting next week.
Post-Satyam scam, PWC India to set up advisory boardMarch 5th, 2009 CHENNAI - Global audit firm PricewaterhouseCoopers (PwC) is cleaning up its Indian stables in the wake of the accounting scandal in Satyam Computer Services. According to a statement by the firm, an advisory board is being set up to provide guidance to the PwC leadership on its strategy and actions.
Market watchdog meets minister over Satyam scamJanuary 9th, 2009 NEW DELHI - India's capital market regulator C.B. Bhave met Corporate Affairs Minister P.C.
Qantas praises Mahindra Satyam as a good value partnerSeptember 2nd, 2009 MELBOURNE - Qantas has praised outsourcing partner Mahindra Satyam's performance despite the latter being embroiled in a much-publicised billion-dollar accounting scandal. According to Australian IT, Qantas corporate services and technology executive manager David Hall said despite the fraud saga, Satyam continues to service the Flying Kangaroo.
Government asks Satyam to appoint new directors within seven daysJanuary 8th, 2009 NEW DELHI - The government Friday announced that it has asked scam-tainted IT bellwether Satyam Computers to appoint new directors within seven days. 'The government has aked Satyam Computers to appoint new directors within next seven days,' said Prem Chand Gupta, minister for company affairs.
ISB dean Rao quits over Satyam fraudJanuary 7th, 2009 HYDERABAD - Mendu Rammohan Rao, dean of the prestigious International School of Business (ISB) here, Thursday resigned from his position in the wake of the financial fraud at Satyam Computers. He was a member of the Satyam board when the irregularities were committed.
Markets fall as Satyam cloud refuses to blow overJanuary 8th, 2009 MUMBAI - Indian equities markets closed in the red as investors resorted to heavy selling amid negative sentiments following the Satyam scandal, with a key index closing 1.88 percent lower than its previous close Wednesday. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) shut shop 1.88 percent or 180.41 points down at 9,406.47 points after opening lower than Wednesday's close of 9,586.88 points.
Tech Mahindra to run Satyam as standalone unitApril 21st, 2009 Tech Mahindra Limited, which is taking over Satyamomputer Services Limited in a deal worth about 580 million dollars, has said that it would run the fraud-hit outsourcing firm as a standalone unit. Tech Mahindra said its immediate priority was to retain and win back lost clients of Satyam and the company intended to meet key customers across the world.
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