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Infosys rules out 'tainted Satyam' buyout

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Press Trust of India

Posted: Jan 08, 2009 at 1353 hrs IST
Satyam

New Delhi 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' buyout by mumbai on 12 Jan 2009

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 infosys by Reshma on 12 Jan 2009

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 Politician by Infoscion on 12 Jan 2009

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 satyam by anupreet khanna on 11 Jan 2009

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 Crap by Neha on 09 Jan 2009

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...

Shame on Narayan Murthy by Gary R on 09 Jan 2009

I am not a Satyam employee, never was. But I was shocked to hear Narayan Murthy's comments. It brings out the petty rivalry that must have existed between him and Satyam. His comment that Satyam is a tainted company reeks of pettiness. A company is never tainted, only the leadership is. Does NM mean to say that all the innocent employees are tainted too?Shameful comments from a person who has been placed on a pedestal for a long time now.Indian industry should strive to salvage the company and its innocent employees while people responsible are dealt severely.

Message to Narayana Murthy by Sudeepti on 09 Jan 2009

Mr.Murthy had a high regard and he doesn't have it any more. We satyamites are busy saving our clients, investors and ourselves. That doesn't mean that your immature statements go unnoticed. You are not the one/you don’t have the right to judge about us! When you talk about a company you are talking about all the employees in the company-- forget about talking like the chairman of Infosys--forget about talking like the representative of IT sector--or IT industry expert--try to talk like a human being if you still are one! Infy is no more a dream company! Murthy is no more a role model--not even ordinary...please don’t forget to not touch our clients too...

Message to Murthy by Sudeepti on 09 Jan 2009

I am a Satyam employee..Mr Murthy has lost the high regard many people had for him. He could have been more sensible..when he talks about Satyam..he is talking about all the 50k plus employees..our integrity and the strength of our charachter is certainly not waiting for Mr.NarayanaMurthy's judgement.. Infy is no more a dream Company..and we will remember your statements Mr.Murthy!

Jack of All Trades.... by kumar on 08 Jan 2009

Narayana Murthy might have lost his mind to give comments on his rival company satyam. Satyam did not cheat any client or any of its employes. Raju have done the mistake without revealing the actuals and showing the virtual profits. But it is not the time to grab the fish by throwing the dirt on fainted company.

satyam in the chair of infosys. by swaminathanpattabhirman on 08 Jan 2009

there is no holy cow - I don't theni N.murthy have moral value on its rival corporates - one should not fish out of troubled water. is there no case of similar nature on INFY - what happened to INFT CEO USA-lady affair - when INFY has to settle the case out of court by scoffing shareholders money including for separation of its co-founder. everyone has their own history to remember.the need of the hour is how to save Indian MNC image - not throwing direty mud on others.it is not only RAJU all agencies, including NASSCOM, Intl' corporate governance and everyone image is at stake.let N.Murthy contribute some thing useful instead of talking some thing irresponibly.

fraud by indian it companies by venkat on 08 Jan 2009

it is good to see infosys making up such a glorious statement. but even infosys is not free from perking up their achievements. i remember their spokesman enlarging their clientele list and boasting too much with out intrinsic strength.

infy vs satyam by swaminathanpattabhiraman on 08 Jan 2009

do N.murthy or infy have moral strenth to talk about rivals. let them lokk back its history and scandal surfaced at infy.let n.murthy avoid irresponsbile tall talk before correcting his own corporate

Tainted IT Industry by Navin on 08 Jan 2009

Unlike the old-economy companies that have output checks in form of customs,excise,Sales Tax,etc the IT industry does not have any points of check by authorities.A million dollar worth Software can move out via INternet on on a CD.How can the genuineness be checked?It is possible that ALL companies are doing similar financial manipulations on different scales but one Ramalingam Raju got trapped!One may see the IT bubble bursting soon-unfortunately though!

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