World Bank has banned Satyam Computer for 8 years in February 2008 and the ban started from September 2008. The reasons for the ban have been noted as “improper benefits to bank staff” and “lack of documentation on invoices”. The comments were confirmed by World Bank’s acting Information Security Official.
Satyam Computer had been working for World Bank since 2003 through to 2008 to write and maintain all the software used by the bank throughout its global information network including back office operations. In 2005, the bank's Chief Information Officer, Mohamed Muhsin, was ousted after being accused of improperly buying preferential stock options from Satyam, even as he awarded the firm major contracts. The report alleges Former VP Mohamed Muhsin had secured contracts and purchase orders worth US$ 100 million to Satyam Computer in return for Satyam's stock options (ADR) at preferential prices. Satyam was 'suspended' in February 2008, declared a 'non-responsive vendor' and then 'made ineligible to be a bank corporate vendor' until the year 2016.
This allegation comes on the back of serious corporate governance issues against the Chairman Mr Ramalinga Raju on the proposed acquisitions of Maytas Infra and Maytas Properties owned and controlled by the two sons of the Chairman. While World Bank’s Indian office confirmed about ban on Satyam to PTI news, the company has not yet clarified on these lines. crackcrack
| Company Name | CMP |
|---|---|
| TCS | 3825.00 |
| Infosys | 1430.15 |
| HCL Tech. | 1476.80 |
| Wipro | 464.65 |
| Tech Mahindra | 1277.45 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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