Infosys Will Not Buy Tainted' Satyam

by CXOtoday Staff    Jan 08, 2009

"We have no such interest in looking at buying Satyam… absolutely not… We will not touch any such tainted company thats very very clear," Narayana Murthy, founder and chief mentor of Infosys said in an interview to a private television channel, last night.


He said that the Satyam incident will not have an backlash on the Indian IT sector.


"Every company, certainly large companies, they have very close relationship with customers. The CEOs and senior management of the Indian industry have a close relationship with the senior management of the customer companies…


"We have a lot of transactions where we have demonstrated class, quality and integrity, so I don’t think all of that will be destroyed just because of one bad apple, because there is one Satyam," Murthy, is now the non-executive chairman of Infosys said.


"The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action to bring the guilty to whatever punishment they deserve," he said.


Murthy said that the IT industry has to communicate to their investors and customers and all potential investors that Satyam is indeed an isolated case of mis-governance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort.

Related Link: India Inc Asks: Was the Board Really Unaware?