Satyam fired by worldbank

Mayur
Member • Dec 23, 2008

Satyam fired by worldbank

Problems are approaching a never ending streak for Indian IT major Satyam Computer systems. They have recently been banned from working with Worldbank.

Satyam who is well known in the public sector contracts is all set to lose further business with World Bank and its allies forever. It is believed that Satyam has breached the confidentiality when world bank officials found a spyware installed on its work stations. Investigators say that the software, which operates through a method known as keystroke logging, enabled every character typed on a keyboard to be transmitted to a still-unknown location via the Internet.

Wow! Satyam sure is geting into a bigger mess. After the Maytas fiasco and the Upaid suit, this is the third major setback for the $2 billion corporation. No wonder Satyam's stock has lost almost 40% of its value.

Here's the news --> #-Link-Snipped-#

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shalini_goel14

Member • Dec 23, 2008

I am worried for its employees 😔 . Poor fellows !!!

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Mayur Pathak

Member • Dec 23, 2008

Yeah... and one of them is our own CEan Durga.

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shalini_goel14

Member • Dec 23, 2008

If its employees are like durga ,no tensions 😀. They are superb !!!

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Mayur Pathak

Member • Dec 23, 2008

shalini_goel14
If its employees are like durga ,no tensions 😀. They are superb !!!
Wow Durga, you have a fan base already 😁
Tell us what is the environment in the company like?

PS: Shalini, I think you ought to send me a 'mail draft'

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shalini_goel14

Member • Dec 23, 2008

mayurpathak
PS: Shalini, I think you ought to send me a 'mail draft'
Which 'mail draft'?? I didn't get you.😕

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Kaustubh Katdare

Administrator • Dec 23, 2008

mayurpathak
Problems are approaching a never ending streak for Indian IT major Satyam Computer systems. They have recently been banned from working with Worldbank.

Satyam who is well known in the public sector contracts is all set to lose further business with World Bank and its allies forever. It is believed that Satyam has breached the confidentiality when world bank officials found a spyware installed on its work stations. Investigators say that the software, which operates through a method known as keystroke logging, enabled every character typed on a keyboard to be transmitted to a still-unknown location via the Internet.

Wow! Satyam sure is geting into a bigger mess. After the Maytas fiasco and the Upaid suit, this is the third major setback for the $2 billion corporation. No wonder Satyam's stock has lost almost 40% of its value.

Here's the news --> #-Link-Snipped-#
The thread icon is this -> . Are you happy that Satyam is in a mess? 😒

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Mayur Pathak

Member • Dec 23, 2008

Yes. I'm happy because Satyam is known for bribing officials to get lucrative public sector deals. This had to happen sooner or later.

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Kaustubh Katdare

Administrator • Dec 24, 2008

I read the news and it says spyware was found on critical systems that allowed Chinese hackers to compromise the systems.

Anyone's got detailed information?

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durga ch

Member • Dec 24, 2008

mayurpathak
Wow Durga, you have a fan base already 😁
Tell us what is the environment in the company like?

PS: Shalini, I think you ought to send me a 'mail draft'
Hi All,

Hey Shalini.. That's nice of you.
Mayur, company is good... infact I say the management here is too good.. forget about hikes... even Google is giving away cell phones instaed of hikes to it;s employeess..

I have not been too long in Satyam.. it's just 2+ yrs.. and have been with same team and undersame manager since then.. so personaly i find it awesome...

and on a larger scale.. it's doing what all company's are currnelty doing.. handing over pink slips , less hikes... and as far as spyware is concerned...i cmae to about it through times of india.. not from internal sources.. so can't say

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aashima

Member • Dec 25, 2008

All the recently recruited freshers, waiting for joining dates are being declined of any possibility of receiving joining dates. There offer letters have been canceled!
Thats Bad!

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Mayur Pathak

Member • Dec 28, 2008

I read in today's news papers that Ramalinga Raju, the chairman of board and promoter of Satyam was planning to divest the company. The news may be just a rumour, but it true it means Satyam is up for SALE

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durga ch

Member • Dec 28, 2008

Not sure if SATYAM is for sale... but the news about Raju is kinda being discussed

Raju is one of the stakeholders and he might be moving out if the board asks for.

hmmm :rolling eyes:

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Kaustubh Katdare

Administrator • Dec 28, 2008

I bet Infosys would want them. Or it could be Mr. Premji of WIPRO!

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durga ch

Member • Dec 28, 2008

IBM was s trong contender long time back... we came to know it was just another rumour..

and Raju and family holds around 9% shares.. lets see

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Mayur Pathak

Member • Dec 29, 2008

Raju is the majority share holder amongst the board. By the way Durga, Raju owns much more than 9% 😀 Its through a holding company. 9% is his individual share.

Raju owns the right to decision making and is putting the holding share.

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durga ch

Member • Dec 29, 2008

😔

i don't know how else can I defend..
my father was mentioning that three of Board room directors have resigned.. and a meet on JAN 10 would discuss about reorganisation... he was apprehensive about the dilution or mergin or overtaking of company..

let's wait till jan 10.. 😔

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durga ch

Member • Jan 2, 2009

another article ! hugh!
#-Link-Snipped-#

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aashima

Member • Jan 3, 2009

I thought, also is being said, Satyam will soon be out for sale or merger but its not the same what people close to it say. The high officials are re-assuring that things will soon be set straight though it may take some time.
Also, Satyam has asked World Bank for an apology. That indicates there has been some misinterpretation though its yet to be stated at which end the misinterpretation lies. 😁

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