Damage-control mission for Satyam boss

Date : 16-03-2009

The new Chief Executive of scandal-ridden Indian outsourcing firm Satyam, A.S. Murthy, paid a flying visit to Australia last week in a desperate bid to bolster the company’s relationship with key clients and assured staff that they had a future with the organisation. Satyam refused to comment on the success of its meetings, but subsequent statements from the companies visited seemed to suggest that little had changed in terms of their intentions towards Satyam.

The Director of independent consultancy Mindfields, Mohit Sharma, said Satyam’s clients should convert the potential disaster of the financial scandal into an opportunity to consolidate their vendor costs.

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Feasibility of Satyam sale in question

Date : 11-03-2009

Doubts are emerging over the feasibility of the proposed sale of disgraced Indian technology giant Satyam Computer Services after it invited bids from companies interested in taking a majority stake.

The director of independent consultancy Mindfields, Mohit Sharma, claimed the acquisition process had been set up to fail, as bidders would have access Satyam’s restated accounts for the last three years once they had been shortlisted as potential buyers. A lack of clarity around the enormous liabilities tied to the company as a result of US class action suits and problems in assessing the true worth of Satyam made a sale highly unlikely, he said.

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