Infosys rules out 'tainted Satyam' buyout

Press Trust of India Tags : satyam, ramalinga raju, satyam computers, satyam fraud, satyam saga, infosys, satyam buyout, ramalinga raju Posted: Thursday , Jan 08, 2009 at 1353 hrs New Delhi:

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The country's second largest software exporter, Infosys, on Wednesday ruled out the possibility of buying Satyam saying the IT major "will not touch any tainted company".

"We have no such interest in looking at buying Satyam... absolutely not... We will not touch any such tainted company that's very very clear," Infosys Founder and Chief Mentor Narayana Murthy said in an interview to a private television channel.

He said that the Satyam incident will not have an backlash on the Indian IT sector.

"Every company, certainly large companies, they have very close relationship with customers. The CEOs and senior management of the Indian industry have a close relationship with the senior management of the customer companies...

"We have a lot of transactions where we have demonstrated class, quality and integrity, so I don't think all of that will be destroyed just because of one bad apple, because there is one Satyam," the non-executive chairman of the company added.

Talking about the course of action following the Satyam fiasco, Murthy said the need of this hour for the regulators is to act decisively.

"The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action to bring the guilty to whatever punishment they deserve," he said.

Murthy said that the IT industry has to communicate to their investors and customers and all potential investors that Satyam is indeed an isolated case of misgovernance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort.

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Infosys rules out 'tainted Satyam' buyoutBy: mumbai | 12-Jan-2009 Reply | Forward Narayan Murthy should be sent to a mental hospital. This guy is out of his mind. The person who cannot respect the national anthem what else can we expect from him. He should be asked what infosys did 2-3 yrs back with one of the UK client account and as a part of penalty Infy had pay for one year to the client. Now this is called as tainted. Murthy should understand what he is saying.

NM and infosysBy: Reshma | 12-Jan-2009 Reply | Forward Infosys itself is a big fraudulent company. With brute money power and political influence it is surviving. And they do nothing but software coolie jobs. There are responsible for the pathetic plight of our country's engineers who work for foreign booshas for the buiscuits and bones they throw. If all those software engineers had worked for India, our technology, Industries and agricultural growth would have been tremonduos. Narayana moorthy is a stupid corrupt political businessman

Software PoliticianBy: Infoscion | 12-Jan-2009 Reply | Forward See how this guys tries to make the most out of this situation.. Infosys anyway is a no good company which does nothing but sofware coolie jobs and thinks big of itself. If we dig deep in to Infosys accounts even their mal practices would come to light. Probably the budda fears that and gives such stupid statements.

response..sudha murthy for satyamBy: anupreet khanna | 11-Jan-2009 Reply | Forward An open letter to narayanan murthyRespected sir. .I was overjoyed when the possibility of Infosys taking over satyam was being listed.This would prove to the world that ethics in workplace is a bestpractise and portable..and infosys story not just a question of being in the right place at the right time at the start of IT boom.Personally I couldn't think of anybody who could better manage the fate of satyam's 53000 employees.who'll not find easy to find jobs in the current recession scenario. You have written in many books and also stated that you owe your wife a debt of gratitude for stepping down and letting you take the helm of company.I think it is payback time .with children grown up and you having retired .and hopefully available for mentoring....the sages in india had the propensity to check everthing and head for woods leaving people who could have benefitted from their guidance high and dry.You have nothing to loose best analyst can define AS IS and only way from there is up

Cut the CrapBy: Neha | 09-Jan-2009 Reply | Forward I think Mr Murty should go back to School and read what is meaning of "Healthy Competition"..I think all his prayers are answered as he seems to be very happy with this fall down...