Satyam banned from World Bank. What else can Satyam do?
I am really sorry folks about the overdose of Satyam. But, I couldn’t resist this. I am suffering from verbal diarrhea when it comes to Satyam. Since, no body listens to me I am putting this down.
This is not an attempt to malign Satyam’s reputation nor is this a false news. I couldn’t make this up.This is coming from PTI. Satyam is banned from doing business with World Bank for 8 years. Reason : Data theft.
Sounds like I am becoming a blogger or an anti-blogger for Satyam but the news in the past two weeks has disturbed me a lot. First it was the Satyam-Maytas fiasco. Now, the ban from World Bank.
Though this news is 2 months old, World Bank made it public only yesterday. Few contractors from Satyam working onshore at the World Bank office has installed spy software which transmits data back to a central location in India. The data sent back is crucial economic information of almost all the countries in the world.
If it was a unauthorized software, then I can understand that the contractor has done it. But spy ware which is sending data back to India? I don’t know what else to say. This could be or could not be the fault of Satyam but the image is tarnished forever. Not that of Satyam but of India Inc.
Satyam is stuck in a whirlpool with no respite. It has dragged India Inc along with it. The Maytas deal made the foreign investors to re-think about their investments in family owned businesses. The key-logger incident would immediately disqualify any Indian vendors for high-security projects. Could it get any worse?
It took 20 odd years to build an image of the company and India Inc. It only took a fortnight to dump it. Credibility is such a strange thing.
Could this be the vaastu of Ramalinga Raju’s office?