Satyam scam isolated, not a slur on corporate India: Kamal Nath

January 11th, 2009 NEW DELHI - Commerce Minister Kamal Nath Monday said the government was looking at all options to help fraud-hit Satyam Computer Services out of its current mess, perpetrated by its former chairman R. Ramalinga Raju.

January 19th, 2009 NEW DELHI - The Rs.70-billion accounting fraud at Satyam Computer will not mar the image of corporate India abroad, Minister for Science and Technology Kapil Sibal said here Tuesday. 'There are a lot of shining stars in India's corporate world who will ensure that the flag of India keeps flying high,' said Sibal.

January 6th, 2009 BANGALORE - Nasscom, the apex body of the IT-BPO industry in India, expressed its shock Wednesday at the confession made by Satyam Computers' erstwhile chief B. Ramalinga Raju, who admitted to a Rs.40 billion fraud before quitting his post.

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.

February 9th, 2009 NEW DELHI - The Satyam Computer Services scam is 'just a case in isolation' and it would not affect the image of India's IT industry, a Singapore diplomat said here Tuesday. 'What happened to Satyam came as a surprise and shock, but we are pleased at the speed of the Indian government that has replaced the board with very credible and highly respected individuals,' Tommy Koh, ambassador-at-large at Singapore's ministry of foreign affairs, said.

March 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.

January 29th, 2009 NEW DELHI - The $1.4-billion Satyam fraud has shaken the collective conscience of Indians and the government will ensure it does not impact its $64-billion software industry, Minister of State for IT and Communications Jyotiraditya Scindia has said. 'A fraud of this proportion being committed by the very people whose nature we thought was exemplary until this incident happened is something that shakes our confidence and trust,' the young minister said, referring to the fraud perpetrated by the founders of India's fourth biggest software services company.

January 11th, 2009 BANGALORE - A group of software professionals in their 20s has managed to bring together two neglected sections of society - the elderly and orphans - in this city. And the initiative is reaping a rich harvest of love, care and companionship.

February 17th, 2009 NEW DELHI - The Central Bureau of Investigation (CBI) Wednesday will take over the investigation into the Rs.70-billion (Rs.7,000-crore/$1.43 billion) Satyam accounting fraud from the Andhra Pradesh police. 'We have received the notification from the government of India to take over the Satyam Computers scam cases from CID, Andhra Pradesh.

January 11th, 2009 HYDERABAD/NEW DELHI - The fraud-hit Satyam Computers Monday began the hunt for a new CEO and will get a new auditor in two days to work out the correct financial position of the company whose founder-chairman B. Ramalinga Raju spent the third day in jail after admitting to the country's biggest financial fraud of Rs.70 billion (Rs.

January 21st, 2009 KOLKATA - Too many agencies simultaneously probing the Satyam Computer Services scam might not be the best way to bring out the truth, Bombay Stock Exchange (BSE) chairman Jagdish Capoor said here Thursday. 'I am not sure whether all the agencies launching investigation at the same time is the best way to bring out the truth expeditiously.

February 9th, 2009 NEW DELHI - Terming the Satyam Computer Services scam a 'singular case', a senior Singapore diplomat said here Tuesday that India would be able to face up to the crisis and emerge 'stronger' from it. 'What happened to Satyam came as a surprise and shock, but we are pleased at the speed of the Indian government that has replaced the board with very credible and highly respected individuals,' Tommy Koh, ambassador-at-large at Singapore's ministry of foreign affairs, told reporters.

February 5th, 2009 NEW DELHI - Noted technocrat Kiran Karnik was Friday named chairman of the scam-hit Satyam Computer Services even as the probe by the Serious Fraud Investigation Office was extended to 325 more companies associated with the beleaguered firm. Corporate Affairs Minister P.C.

January 7th, 2009 CHENNAI - The admission of a Rs.70-billion ($1.4-billion) fraud by Satyam Computer founder-chairman B. Ramalinga Raju was a matter of hot discussion on the margins of a diaspora conference here with some delegates saying it raises doubts over the level of corporate governance in India.

January 7th, 2009 MUMBAI - Scam-tainted Satyam Computer has been de-listed by the Bombay Stock Exchange (BSE) with effect from Jan 12, the BSE said in a statement Thursday. The scrip closed at Rs.39.95 Wednesday after a 77.69 percent freefall after the company's founder-chairman B.