Some clients want contingency plan: Satyam

Some clients of fraud-hit Satyam have sought a contingency plan if things don't stabilise in the next three months.

Some clients of fraud-hit Satyam Computer Services have sought a contingency plan if things don’t stabilise at the Indian outsourcer in the next three months,a spokesman said on Tuesday.

“In a few isolated cases,customers have been engaged with us to understand the process of transition,” a spokesman said in an emailed response to questions from Reuters.

“They have said they would like to have a contingency plan,should it be required,if things don’t stabilise within the next 90 days,” he said.

Story continues below this ad

Satyam,India’s No.4 software services exporter,was plunged into crisis after founder Ramalinga Raju resigned as chairman earlier this month,revealing profits had been falsified for years and $1 billion of cash on the books did not exist.

A government-appointed board said on Saturday it was still looking for a new chief executive and chief financial officer for the firm.

Trade, tech, defence, EU strategic roadmap for India, India-EU FTA, India-EU free trade agreement, Ursula von der Leyen, Indian express news, current affairs

Trade, tech, defence: EU rolls out new strategic roadmap for India

Business3 hr ago

The EU has unveiled a new strategic agenda to enhance relations with India, prioritizing trade, technology, defence, security, connectivity, and climate change. President von der Leyen stressed the importance of partnerships based on shared interests and values. The EU plans to finalize a FTA with India by the end of the year and strengthen collaboration on global issues and with other countries.

View all shorts

Live Blog