Employees of Satyam Computer were in disarray today following their Chairman B Ramalinga Raju's resignation after the firm admitted to financial wrong-doing, leaving the country shell-shocked.
 Panic-stricken employees were seen in small groups outside the corporate office, discussing the issue. However, they remained tight-lipped with the media.
A team leader Raghu K said the resignations have not "surprised us", but the news attached to it is worrying. He said the top management has not yet made any communication with the employees.
When asked about their reaction to Raju's resignation, he said, "There is panic among the employees. But daily work has not been affected."
"We are now worried about jobs. We hope whoever takes over the company will put things right," he added.
Most of the employees are also worried about their financial commitments like payment loan dues. C R Aravinda, a junior employee, said, "The only thing we can do is to work hard. We are serving clients as usual."
He, however, said he was not aware about the developments.
B Ramalinga Raju, along with his brother Rama Raju, who is also MD of the company, resigned today following a two-week-long row over the Satyam-Maytas episode.
Nasscom not to impose ban
IT industry body Nasscom today said it has no plans to disqualify Satyam Computer as a member following the accounting-fraud disclosure made by the software major's Chairman Ramalinga Raju.
"We are not looking at banning Satyam of its membership right now," Nasscom President Som Mittal told PTI. "Right now, the priority for the industry body would be to restore investor, analyst and employee confidence on the Indian IT sector," he added.
Nasscom will also extend 'all kind of help to employees of Satyam', he said.
"This is a standalone case of corporate governance failure of such magnitude. There is no prior instance of any other member company getting into such situation so we are not sure what action we can take as an industry body," Nasscom Chairman Ganesh Natarajan said. "We believe the entire IT sector will not be impacted much as we consider this as a specific case of a particular firm." X |