New Delhi, Jan 8: India's second largest IT Software Company, Infosys has taken the stance of not buying Satyam on Wednesday, Jan 7. "We have no such interest in looking at buying Satyam... absolutely not... We will not touch any such tainted company thats very very clear," Infosys Founder and Chief Mentor Narayan Murthy said in an interview to a private television channel.
He said "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," the non-executive chairman of the company added.
When asked about the course of action on Satyam, Murthy said that the most crucial thing now is for the regulators to act decisively. "The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action tobring the guilty to whatever punishment they deserve," he said.
&13;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 misgovernance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort."
&13;OneIndia News (With inputs from Agencies)
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He said "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," the non-executive chairman of the company added.
When asked about the course of action on Satyam, Murthy said that the most crucial thing now is for the regulators to act decisively. "The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action tobring the guilty to whatever punishment they deserve," he said.
&13;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 misgovernance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort."
&13;OneIndia News (With inputs from Agencies)
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