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Satyam Says Won New Deals Despite Fraud Revelation

03 February, 2009

Satyam Computer Services Ltd won 15 outsourcing contracts in January despite revelation of India’s biggest corporate accounting fraud at the company, a spokeswoman said.

The contracts were in markets such as the United States, Europe, Japan, Africa, the Middle East and India, she said in an e-mailed statement to Reuters.

“As of now there has been only one client termination,” the spokeswoman said, referring to the decision of U.S.-based State Farm Insurance to terminate its contract with Satyam after its founder quit on Jan. 7 admitting accounts were falsified for years.

“Our executives are reaching out to clients around the world, and at this point, well over 90 percent of our clients have committed to continuing with Satyam,” the spokeswoman said.

 


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Satyam Says Won New Deals Despite Fraud Revelation

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