brd at iimetro.com.au
Sun Jan 11 13:08:50 AEDT 2009
As, I keep saying, there is can be danger in minimising procurement
costs. Increased risk for one.
Chief of fraud-hit Indian IT firm in prison
January 10, 2009 - 11:06PM
The disgraced former chairman of top Indian IT firm Satyam has been sent
to prison, days after admitting to a $US1 billion ($A1.4 billion) fraud
that has shaken the country's business community.
B. Ramalinga Raju was arrested overnight after he surrendered to police
and was jailed on remand until January 23 by a judge in the southern
city of Hyderabad, where Satyam is headquartered.
The fallen chairman's brother, Rama Raju, who is a former Satyam
director, was also jailed yesterday pending a full trial.
Mr Raju's lawyers said they would seek bail for the disgraced software
tycoon whose admission to wrongdoing prompted a near collapse of Satyam,
which boasts high-profile clients in 65 countries.
<snip to end of report>
Does anyone know what exposure Australian Governments have to Satyam?
This is on their website:
*Satyam in Australia and New Zealand*
With established presence in the major cities across Australia and New
Zealand, Satyam boasts the largest development centre in Melbourne and a
regional solutions hub for the region based out of Sydney. Our
development centre in Melbourne is equipped with sophisticated ICT
infrastructure and business continuity facilities that have been have
been certified with the highest security standards of ISO27001.
Recently, we had launched a 25-acre Satyam Technology and Learning
Centre in Geelong to complement Satyam’s growing global presence across
other development centres and to serve as a near shore hub to our
Australian and regional clients.
Our commitment to the region has been recognised in the recent past when
Satyam was awarded the Indo Australian Business Excellency Award by the
Australian government for supporting industry growth and development in
Australia, and investing in local human capital.
In Australia, Satyam has also been listed on the following government
* MUL (Multi-ser List) accreditation for Federal Government business
* Accredited as a signatory to the Government Information Technology
Contracting Framework (GITC) for Queensland Government
* eServices Panel for Victorian Government
With its cutting-edge knowledge and expertise, Satyam can help customers
win in their business game.
brd at iimetro.com.au
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