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Rush to curb Satyam fallout
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Newspaper Article
Rush to curb Satyam fallout
2009
Overview
Last night the company was on the brink of collapse, with insufficient cash to meet this month's payroll. Satyam outsources IT services to a host of big Australian companies, including Telstra, Optus, Qantas, Coles, National Australia Bank, Suncorp and Medibank. The Hyderabad-based business lost 94 per cent of its cash reserves as a result of a fraud admitted to by Mr [Raju] in a five-page confession to Satyam's board of directors earlier this week. BusinessDaily yesterday tracked down Deepak Nangia, Satyam's Australian chief of operations.
Publisher
Nationwide News Pty Ltd
Subject
