Slowly but surely the tide is turning in Satyam’s favour. After securing finances for operations, the board of Satyam is now lining up prospective buyers, thanks to the relaxation of rules by SEBI. But what is more heartening from Satyam’s perspective is that the World Bank has said it could review the eight-year ban imposed on the company provided the software exporter takes "corrective action". This surely is a shot in the arm for Satyam, which has been rocked by a few key clients jumping ship into the rival camps. An email statement from a World Bank official said that "The vendor would have to demonstrate (that) corrective action had been taken to address the original causes of the Ineligibility," The official further said action should substantiate that Satyam is "again a responsible vendor with whom the Bank can do business". On its part Satyam has a strong case for a review of the ban since its old board and management have been changed after its disgraced founder Chairman B Ramalinga Raju admitted to fudging accounts to the tune of Rs 7,800 crore.
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