After Maytas(reverse word of Satyam which reversed Satyam's fate) issue, another pain for Satyam:The World Bank on Tuesday confirmed an earlier report that it has barred Satyam Computer Services from doing business with it for eight years, starting September this year, due to data theft and paying bribes to its staff. Now Satyam is ineligible to receive direct contracts.
Since 2003, Satyam had been writing and maintaining all software for World Bank across all locations. This also included maintenance of software in back-end offices.
Since 2003, Satyam had been writing and maintaining all software for World Bank across all locations. This also included maintenance of software in back-end offices.
A Fox News report said Satyam was straying badly across the bank’s ethical warning lines. Quoting sources, the report said that one of the worst breaches apparently occurred last April in the network of the bank’s super-sensitive treasury unit. “...bank investigators had discovered that spy software had been covertly installed on workstations inside the bank’s Washington headquarters allegedly by one or more contractors from Satyam,” Fox News said. According to the report, Robert Zoellick reportedly told his deputies, “I want them off the premises now.” The report pointed out that A World Bank official denied that Satyam was behind any of the bank’s security breaches: “I am not in a position to tell you,” adding that “we’re confident” it wasn’t Satyam.
Reacting to reports in the US media on charges of data theft, a company spokesperson said that they were aware of the reports but it was the company’s policy not to comment on client relations. “We have seen the reports. Satyam has a policy not to comment on or discuss client relations,” a spokesperson said today.
The World Bank's disclosure on Tuesday could be an embarrassment for the company which is embroiled in an unrelated controversy after its scuppered bid to buy two firms linked to its promoter B Ramalinga Raju.
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