New Delhi, Jan 07: With the developments in Satyam
Computer unfolding shocking irregularities, Wipro
Technologies, a NYSE-listed company, on Wednesday said this incident
is one of its kind and is unlikely to affect the industry.
"We are shocked by the recent news reports on Satyam,
stating alleged multi-year misstatement of revenues.
"Wipro strongly condemns any attempt to mislead
stakeholders. Global standards of corporate transparency are
very high and we are confident that this is an isolated case
and not representative of the IT industry," Wipro Limited
Executive Director and CFO Suresh Senapaty said.
He said a detailed investigation of this incident is
urgently called for and needs to be undertaken by the
authorities without delay.
Satyam Computer Services' Chairman and founder B
Ramalinga Raju today resigned amid a scandal over inflated
profit reporting. In his letter of resignation, Raju said
Satyam, one of India's largest outsourcing companies, had
"inflated profits over a period of (the) last several years".
Bureau Report
First Published: Wednesday, January 07, 2009, 00:00