News and Events of India

The chief minister of Andhra pradesh, Y S Rajasekhara Reddy is seeking the help of Prime Minister Monmohan Singh to form a team consisting of the chairmans of top 3 Indian IT companies to manage the current worst condition going on with Satyam Computers. The chairmans are respectively Narayana Murthy of Infosys, Azim Premji of Wipro and Ramadorai of TCS. Reddy pointed out that their major and immediate concern is about the wellness and job security of 53,000 employees of the company.

He said to mr. Manmohan Singh that, most of the customer or clients of Satyam are fortune 500 companies and that’s why the clients have recently no interest to do business with such a company which has many fraud cases and suffering from disaster. Reddy has also sent this letter to home minister P. Chidambaram. He also said that the clients of Satyam has the right to cancel the contracts made with Satyam in the earlier days and this can effect the job of 53,000 employees of the company as well as the innocent share holders. Narayana Murthy of Infosys said that his company would not acquire a blacklisted company.

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