Indian Government has no plans to offer bailout to Satyam
January 15th, 2009 Leave a comment Visited 41 times, 1 so far today
Indian Government has no plans to offer bailout to Satyam
The Indian government has now stated that they are not going to provide any bailout package for Satyam.
Satyam is currently in a financial mess after it was revealed that the top management were involved in a major fraud.
The government however did say that they would do everything required to save jobs under their powers.
Government representative Ashwani Kumar said in a statement: “This is a decision that the new board of Satyam would take. This Government is not going to directly or indirectly subsidize wrong doing and fraud in Satyam.”
He added: “The government would try and support within the framework of its responsibilities and do whatever it can to preserve and save jobs and to protect the good name of India in the corporate sector.”
Ashwani Kumar, BPO, India, IT, Satyam, Satyam Computer, Satyam Computer Services
Manuj Kumar
Category: Services Market
|
TechWhack on Facebook
|
This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.