Infosys Technologies Ltd, the information technology services major, said it may talk to the clients of its beleaguered rival Satyam Computer Services but only if they initiate talks.
Infosys Technologies Ltd, the information technology services major, said it may talk to the clients of its beleaguered rival Satyam Computer Services but only if they initiate talks. The company said it would not pursue any of the clients voluntarily.
TV Mohandas Pai, the human resources chief of the Bangalore-based Infosys, said the company is not chasing Satyam's customers but if the clients initiate negotiations it may have a dialogue with them.
"As of now, we are not talking to their clients…we will not proactively pursue them. Let them come to us. It is a free market and if they want to choose us then we will take the business," Pai said. Satyam's top clients include ArcelorMittal, Nissan Motor, Citigroup, General Electric, Nestle, Telstra, etc.
Many of the company's clients are concerned over the Hyderabad-based company's ability to execute their projects after the recent accounting fraud came to light and a severe liquidity crunch followed. Satyam is expecting receivables of about Rs 1,700 crore from its clients.
Experts believe that the cost of moving business from one vendor to another would be the deciding factor for clients in cancellation of Satyam contracts. Pai said that some of Satyam clients have already enquired about Infy's governance standards.
"We are responding to clients who have raised concerns on what corporate governance standards we have."
Pai said Infosys is in talks the ministry of corporate affairs to encourage Indian firms to get their accounts audited through the method set by the International Accounting Standards Board as it's a more transparent system compared with US GAAP.
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