"We will spare no effort in getting to the bottom of this terrible scam and will take whatever measures are necessary on the basis of the findings," External Affairs Minister Pranab Mukherjee, who is also holding the finance portfolio, said at the Annual General Meeting of FICCI.

The government acted swiftly and is doing everything in the domain of investigations, protecting the livelihood of thousands of employees and restoring confidence among clients.

Without naming Satyam, he said this one single aberration does not undermine either the reputation of the Indian IT industry or the country's standing as an emerging trillion dollar economy with the second-highest growth rate among the major developing countries.