Telstra, NAB and other big Australian companies have been stunned by the $1.8bn Satyam rort.
Who would have thought that the outsourcing chappies might be crooks?
http://www.news.com.au/business/mone...44-462,00.html
Who would have thought that the outsourcing chappies might be crooks?
CORPORATE Australia's push to export IT jobs to India is in disarray following a $1.84 billion fraud involving one of the world's key outsourcing companies.
Telstra, Qantas, Coles, NAB and Suncorp are among scores of Australian companies affected by the scandal, reports the Herald Sun.
The fraud, involving Hyderabad-based Satyam Computer Services, also throws into doubt plans for a $75 million software laboratory at Deakin University's Geelong campus.
The laboratory, a joint venture between Satyam, Deakin and the State Government, was slated to create 2000 jobs and inject an annual $175 million into the Victorian economy within the next decade.
Satyam Australia, which employs about 1700 local staff, has headquarters in Melbourne but calls yesterday were answered by a recorded message.
Shares in the Mumbai and New York-listed business crashed after company chairman B Ramalinga Raju confessed to falsifying the earnings and assets of India's fourth-largest software and outsourcing services provider.
Telstra, Qantas, Coles, NAB and Suncorp are among scores of Australian companies affected by the scandal, reports the Herald Sun.
The fraud, involving Hyderabad-based Satyam Computer Services, also throws into doubt plans for a $75 million software laboratory at Deakin University's Geelong campus.
The laboratory, a joint venture between Satyam, Deakin and the State Government, was slated to create 2000 jobs and inject an annual $175 million into the Victorian economy within the next decade.
Satyam Australia, which employs about 1700 local staff, has headquarters in Melbourne but calls yesterday were answered by a recorded message.
Shares in the Mumbai and New York-listed business crashed after company chairman B Ramalinga Raju confessed to falsifying the earnings and assets of India's fourth-largest software and outsourcing services provider.
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