The impact of Satyam fraud appears to have had its effect on other software majors in the country like Wipro, Infosys and Megasoft.
On Monday, the World Bank has announced blacklisting of Wipro and Megasoft for alleged manipulation of software sold to the Bank. Though Wipro had completed its task entrusted by the World Bank in 2007 itself, the Bank has imposed ban on the software company now, in the wake of Satyam fraud. Recently, the World Bank imposed ban on Satyam alleging leakage of secret documents of the Bank.
Though there is no direct impact on Wipro as of now, the very fact that World Bank has banned it will send wrong signals to its other customers and they might terminate their contracts with the Indian software company. So, Satyam fraud has already started having its cascading impact on other companies!
