Satyam can remain afloat on its own: Pranab Mukherjee

February 11th, 2009 NEW DELHI - The Satyam scam was a 'one-off, unfortunate case of failure of corporate governance', Minister for External Affairs Pranab Mukherjee said here Thursday. Addressing a meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI), Mukherjee said: '(Satyam) was an unfortunate case of failure of corporate governance… It was a one-off case.

January 29th, 2009 NEW DELHI - The Group of Ministers (GoM) to decide the fate of third generation (3G) mobile spectrum auctions will most likely be headed by External Affairs Minister Pranab Mukherjee, an official source said Friday. 'The ministers who will be part of the GoM will be decided by Monday.

February 11th, 2009 NEW DELHI - The perpetrator of the Rs.70-billion (Rs.7,000-crore/$1.43 billion) accounting fraud at Satyam Computer Services will not go scot-free, Minister for External Affairs Pranab Mukherjee said here Thursday. 'In the recent past, we have seen an unfortunate case, a failure which has attracted considerable attention,' Mukherjee said in his address at the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).

February 18th, 2009 NEW DELHI - The government does not intend to bail out the scam-hit Satyam Computer Services as the company has 'adequate assets' and can bounce back if run professionally, Minister for External Affairs Pranab Mukherjee said here Thursday. 'Let me make it clear that the government has no intention to bail out the company.

January 12th, 2009 NEW DELHI - Unfazed by the mammoth fraud in Indian IT bellwether Satyam, Britain Tuesday hailed India as a 'success story', saying one rotten apple does not soil the whole barrel, even as an optimistic New Delhi urged the international community 'not to press the panic button'. 'India's economic growth is based in strong fundamentals and a zeal for reforms.

July 13th, 2009 NEW DELHI - The government Monday constituted an Empowered Group of Ministers (EGoM) to look into matters concerning third generation (3G) spectrum auctions scheduled to happen this year. The nine-member EGoM will be headed by Finance Minister Pranab Mukherjee, a Department of Telecommunication (DoT) official told IANS.

February 21st, 2009 DURGAPUR - Coming down heavily on India's ruling United Progressive Alliance for neglecting the recession-hit small scale sector, West Bengal Chief Minister Buddhadeb Bhattacharjee Saturday said the central government seemed only concerned with big companies like Satyam. 'The small scale sector is very badly hit.

February 15th, 2009 NEW DELHI - The communications ministry may expect the auction of scarce 3G spectrum to fetch Rs.30,000-Rs.40,000 crore ($6-8 billion), but the interim budget for 2009-10 has projected no more than Rs.20,000 crore ($4 billion) on that count. 'The budget estimates for 2009-10 include a sum of Rs.20,000 crore as the expected revenue from auction of 3G spectrum,' says the receipts budget tabled Monday by External Affairs Minister Pranab Mukherjee.

February 20th, 2009 MUMBAI - Infrastructure and construction major Larsen and Toubro (L&T) Friday said it was studying the go-ahead given to scam-hit Satyam Computer Services to rope in a strategic investor with a combination of fresh equity and an open offer to shareholders. L&T is now the largest shareholder in Satyam.

July 6th, 2009 NEW DELHI - The government expects to raise as much as Rs.35,000 crore ($7.2 billion) from auction of third generation (3G) spectrum, Finance Minister Pranab Mukherjee said Monday while presenting the budget for 2009-10 in the Lok Sabha. The estimated figure, included in the receipts from the "other communications services" category in the budget, is higher than what Communications and IT Minister A.

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 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.

June 16th, 2009 NEW DELHI - No consensus has been reached between the Department of Telecommunications (DoT) and the finance ministry on the reserve price for third generation (3G) radio waves auction, Communications Minister A. Raja said here Tuesday.

July 13th, 2009 NEW DELHI - The government has constituted an 'Empowered Group of Ministers' (EGoM) to supervise the spectrum for 3G telephony that will revolutionise the technology through which data is received and transferred from mobile phones. According to reports, there would be nine ministers in the EGoM, which would be lead by Union Finance Minister Pranab Mukherjee.

January 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.