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Satyam Says Won New Deals Despite Fraud Revelation

By Reuters

  • 03 Feb 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.

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"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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