The Ministry for Corporate Affairs (MCA) has ordered inspection of books of accounts of eight Satyam Group companies under the provisions of the Companies Act and asked the Institute of Chartered Accountants of India (ICAI) to take action against the auditors as per the norms.
 
This was ...

The central government finally stepped up to save the scam-tainted Satyam Computer by announcing to induct 10 new directors within seven days. The existing directors of the IT company were fired by the government on Friday (January 9). Meanwhile the company's board meting which was supposed to be ...

The former founder and chairman of Satyam Computer B Ramalinga Raju and his brother and former company managing director B Rama Raju have been taken into police custody on Friday (January 9) night. Both Ramalinga Raju and his brother were arrested on charges of cheating and forgery. While informing ...

Satyam's chief financial officer Vadlamani Srinivas has relinquished his job on Thursday (January 8). The resignation of Srinivas came at time when the beleaguered company is engulfed with financial scam and controversy. Only day before yesterday, the chairman of Satyam Computer Services Ltd, B. ...

The Hyderabad-based troubled IT company, Satyam Computer has been de-listed by Bombay Stock Exchange. As per a statement of BSE, the sanction on Satyam will come into effect from Monday (January 12). Sun Pharmaceutical Industries has been placed in Satyam's slot on BSE's benchmark index, the ...

The Maytas debacle has hit one more blow to beleaguered Satyam Computer when DSP Merrill Lynch, a leading financial management and advisory firm announced the termination of its advisory engagement with the IT company. In a statement to the Bombay Stock Exchange, DSP Merrill Lynch said that the ...

Indian equities came under tremendous pressure after a shocking confession and resignation by Ramalinga Raju, the chairman of Satyam Computers was sent to the stock exchanges.
 
In a letter to the board of directors, Raju states that Satyam’s balance sheet as on Sep 30, 2008, carries ...

The beleaguered IT company, Satyam Computer suffered a major set on Wednesday (January 7) when its chairman B Ramalinga Raju relinquished his post. Ramalinga Raju admitted major financial wrong-doings executed over the years to inflate the profits of the company. Satyam Computer was recently ...

The independent director of Satyam Computer Services, Mangalam Srinivasan has resigned from the board. The resignation of the director came after the company was barred from doing business with the World Bank and came under scrutiny following an unsuccessful attempt to buy Maytas Properties and ...

Satyam Computer Services has been barred from doing business with the World Bank, a spokesman for the World Bank said on Tuesday (23rd December). According to a website report the World Bank had banned Satyam from all World Bank-related business for a period of eight years from ...

Motorola's software development facility at Kuala Lumpur has been acquired by leading IT firm Satyam Computer Services. The IT company has not disclosed anything about the deal. After the acquisition, all the assets along with the 128 employees of Motorola's subsidiary will go to Hyderabad-based ...

Indian IT giants Wipro and Satyam have won Asian MAKE Awards 2008 in 'Transforming enterprise knowledge into shareholder value' and 'Most Admired Knowledge Enterprises' category respectively. Factually, after an initial short-listing by a panel, the MAKE Winners are chosen by a panel of Fortune 500 ...

The global economic seems to have an adverse affect on IT companies as Satyam Computer has decided to reform its hiring plans for 2008-09. The company has decided to hire only 8,000-10,000 staffs instead of its earlier plan of hiring 14,000-15,000. According to an IT analyst, the recent move by the ...

Satyam BPO CEO Venkatesh Roddam has resigned from his post; COO Vijay Rangineni will hold the post temporarily. However, reports say that Roddam’s exit would not create a leadership vacuum as Satyam already has identified his successor. The person expectedly would be on board in a couple of ...

Indian IT major Satyam has signed an agreement with Oman's Khimji Ramdas to offer skills in standardizing and automating business processes across its various divisions. The mega deal will help Khimji to prioritize its huge range of activities spanning through trading, distribution, retailing, ...

Satyam Computer Services Ltd, a global IT consulting and service provider, is going to soon develop IT and BPO development centres in Mexico and Chile or Uruguay. This information was provided by senior officer from the company. ‘After opening IT and BPO development centres in Egypt, Brazil ...

Satyam Computers, the fourth biggest software exporter of India, declared on Monday, July 7 that it has formed a pact with Tyfone for providing it mobile financial services. A statement issued by Satyam Computers stated that firms would avail enhanced solutions and technology due to the ...