NASSCOM (National Association of Software and Service Companies), the apex body of the Indian Software & Services Industry has issued a Press Statement following the disclosures by Ramalinga Raju of Satyam Computer Services to SEBI. Satyam Computer will face class-action lawsuit in USA according to reports.
The Indian IT Outsourcing industry, which is expanding on the goodwill and reputation it has built over a period of time among global clients, is expected to bear the brunt of the Satyam episode in the coming financial quarters. NASSCOM hope that stakeholders treat this as a stand-alone case and an isolated issue.
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