Satyam out, TCS-Infosys in
India‘s fourth biggest software exporter, Satyam computers have mud smudged all over their face. The World Bank has accused satyam computers, Chennai of planting spy software on their high security systems. It is believed that some of the satyam contractors, working at the World Bank workstations in Washington DC, the main headquarters of World Bank were involved in this unfortunate incident.
Satyam computers was on cloud nine after acquiring the five-year sole contract to design, write and maintain all of world banks information systems The contract, which began at $10 million in 2003 and grew to more than $100 million by 2007, was suddenly not renewed this year. The company has been barred from contracts for providing “improper benefits to bank staff” and for “failing to maintain documentation to support fees” charged for its sub-contractors.
According to expert forensic sources the spy software that was lodged on the keyboards facilitated in recording every character typed on the keyboard and transferred the information to an unknown location through internet. World Bank happens to be one of the largest repositories of sensitive data concerning the economies of every nation. The information safeguarded by the World Bank might be of serious nature that should be kept under wraps within the four walls of the bank itself. But the spy software has given invaders access to the highly restricted treasury unit and the anti-corruption and human resource department as well. It is still not known how much information was stolen or where have they been used and transmitted through the spy chip. Satyam considers World Bank as its premier customer. But remarks made by World Bank have not only caused the two billion dollar giant an embarrassment of sorts but has also increased stress level.
This controversy of malicious attacks on the World Bank workstations comes in the wake of another controversy that Satyam head, B Ramalinga Raju is struggling to tackle. The other controversy has Satyam Shareholders asking for Corporate Governance in family owned businesses. Satyam decided to use the company’s cash chest to bankroll a land sale by another company controlled by promoter B Ramalinga Raju. The other bids in question are Maytas Infra and Maytas Properties, where Maytas is Satyam spelt backwards.
Thus embroiled in many controversies Satyam has decided to wake up and show its true colours. Satyam, which is an otherwise shy company has publicly demanded an apology from World Bank for the damage they have caused with their no evidence, no proof remarks. Although World Bank is not ready to budge from its earlier statements, Satyam has lost out on a major chunk of limelight for some time to come.
Satyam’s loss is TCS and Infosys gain. They will be in charge of the sole contract, where satyam was involved. They will either wait till a year or work within the same contract rules or a new contract will be charted out.
