The startling revelation prompted a collapse in the stock of India’s fourth-largest software services company. Satyam, which means “truth” in Sanskrit, plunged a record 78% on the Bombay Stock Exchange, dragging down the Sensitive Index in a ...

Satyam Chairman to Resign - TechWeb

Computer Services firm Satyam confirmed that it has received a letter from its Chairman and Founder, Mr. B Ramalinga Raju. This letter, dated Jan 7, 2009, has been circulated to all existing members of the board, several senior leaders and copied to ...

Outsourcing shifts beyond Bangalore, Mumbai - CNET News

India's traditional outsourcing centers appear to be falling out of favor. According to Pierre Audoin Consultants, outsourcing companies are increasingly looking outside Bangalore and Mumbai when choosing bases in which to set up shop. PAC found that ...

IT firms bullish on pharma outsourcing - Daily News and Analysis

At a time when information technology (IT) companies have frozen recruitments, Hari Singh hadn’t imagined he would get a job offer from a software firm. The Bachelor of Ayurvedic Medicine and Surgery (BAMS) graduate will soon be joining the Mumbai ...

India outsourcing giant hit by billion-dollar fraud scandal - PhysOrg

Company founder and chairman B. Ramalinga Raju admitted the Hyderabad-based software services firm had falsified accounts and assets and inflated its profits over several years. The company overstated its cash and bank balances to the tune of more ...