this clearly shows off that some global community is trying to pull up Indian Corporate Image from global market. we fellow Indian need to be cautious while dealing with other foreign nations. It might be emoted by global competitors. we join hands break this off. jai hind!
this world bank game is a total fraud being played by bush-obama-hillary from white-house.
world-bank is totally under them.
why world bank is banning only indian software companies?
satyam`s scam is $1 billion. and world bank banned it.
what about dozens of american companies into fraud? for instance: enron: Ffraud over $125 billion. citibank: Ffraud of $290 billion. Lehman Bros: Ffraud of $300 B.
World bank loves them even today!
coz they are `WHITE MANs` companies.
world bank targets only indian companies! for financial errors, NOT EVEN ONE PERCENT OF THE FRAUDs DONE BY WHITE MANs COMPANIES!
and what about congressAtCenter? they should retaliate against america, truely speaking!
but they WONT. why? coz CIA__RunsIndiaToday, from PM to madame, all under CIA__of__USA.
Ramalinga Raju of Satyam said, he has committed fraud and everyone believes it. How and on what basis? All the financial statements are certified as correct by the auditors and other authorities. If the fraud was really going on for 5 years, do you think, the company could have survived all along without facing the liquidity crunch. It has 150 of 500 fortune firms as its clients and 53000 employees who are getting their salaries and benefits on time. Satyamites, don't lost hope. There is something fishy behind all this confession of Raju. Presume, he had not confessed for another 5 years, what would have happened? Nothing.
How come the world Bank did not reveal till now that it had banned Wipro and three other Indian companies from undertaking its I.T. projects. It seems the ban is from 2007 upto a period of four years ending by 2011. Even the WB now thought that since the Satyam's fraud has come to light, it is better to reveal its dealings with Wipro also as quickly as possible. Wipro, although denies the allegations made by the WB, is now seen on par with any other tainted firms like the Satyam
sir, as our friedns 55000 placed in satyam are going to lose their and job it's unlike that they will repay the loan taken from you banks so act immediately , it's all now turned as Non Performing Asset.
if you dont act these people will escape.,
and good news for new and first time home buyers, there is good news waiting for you., as these properties owned by satamites will be auctioned soon so it;s upto you to bargain
Re: ADVICE TO INDIAN BANK ASSOCIATION
by sumit mukherjee on Jan 13, 2009 01:22 PM
disgusting post. shows what kind of a person you are. you don't belong in the realms of human decency.
Re: ADVICE TO INDIAN BANK ASSOCIATION
by Bossom on Jan 13, 2009 04:23 PM
So Mr. Venkatesan Phoopalan, you seem to be quite happy that others are in trouble for no fault of their own right? you are some sick person, may you too fall in the same kind of trouble
Wondered why all this is cropping up now?? There will be black sheep corporates.. but one wonders if this is the strategy to break our IT services hegemony??
Re: World bank's action
by Ratan on Jan 13, 2009 11:12 AM
If this is case then Satyam and Wipro can sue WB. Why are they silent? Because they have done fraud!
Re: Re: Wipro - fraudster company
by sumit mukherjee on Jan 13, 2009 01:27 PM
You seem to belong to a category which speaks before thinking. There can be no other explanation for this post. Please do take the time to go through Wipro's response before posting further.
Re: Wipro - fraudster company
by sumit mukherjee on Jan 13, 2009 01:27 PM
You seem to belong to a category which speaks before thinking. There can be no other explanation for this post. Please do take the time to go through Wipro's response before posting further.
In the case of Megasoft, FOX has learned that as far back as 2003, a Megasoft annual report states that the company's founder-chairman, Ravindra Sannareddy, "has also launched and successfully ran software services division in U.S. for Satyam Group." In 2004, in a deal that attracted scant attention, Satyam co-founder Srini Raju — the younger brother of the firm's chairman, Ramalinga Raju — merged one of his private Indian companies into Virginia-based Megasoft — which in turn began receiving World Bank business soon afterward.
The company was used as a vehicle to obtain World Bank contracts after bank officials had grown concerned that Satyam already had too many such deals — and some had voiced fears that the bank was becoming too dependent on the company.
Indeed, according to internal bank sources, Satyam was informed that it would not be able to bid on many future contracts. By that time, however, "many contracts that Satyam didn't bid on or get, Megasoft was getting," a former World Bank anti-corruption investigator told FOX News.
Then, beginning in 2005, according to well-placed bank insiders, Satyam began engaging in "body swaps" — where its employees working inside the World Bank were technically converted into Megasoft employees. Megasoft's own website states that it has "managed on an outsource basis" the U.S. division of Satyam.
Re: Re: Megasoft Truth
by Prasanna Kumar on Jan 13, 2009 03:50 PM
world bank should take proper guidelines from indian financial experts, so that both the investors & employees are safe otherwise everybody will be in troubled water. prasannakumar
In an interview published in PC World this morning, a top Wipro official said the number of shares offered by the company were too few to amount to an inducement. The ban was prompted by the sale of about 1,750 shares for about $72,000. "It was a goodwill gesture," said Girish S. Paranjpe, joint CEO of Wipro's information technology business. Wipro did not reveal the World Bank ban itself, he said, since it was a World Bank policy not to discuss such investigations. Once the bank had changed its position, Wipro decided to issue a statement and clarify, he added.
Documents obtained by FOX News, however, show something Wipro did not mention: that the shares it provided to the bank officials were dispensed — just weeks after it first began bidding for World Bank technology contracts back in September 2000. A World Bank investigation report on the matter, which outlines the details, has never been made public.
