BPO pulls out after data theft case
[ 14 Oct, 2006 0323hrs ISTIANS ]
NEW DELHI: Hit by data theft, Acme Tele Power Limited, a top business process outsourcing (BPO), has decided to shut its operations in India and annul a $10-million investment earmarked for research and development.
Senior employees of the company, a Gurgaon-based firm near the national capital, said it had decided to pull out as they were upset with the handling of the data theft case.
The company alleges that one of their former employees, Sachidanand Patnaik, had stolen data worth billions of rupees. A court granted bail to Patnaik on Thursday.
"We think that police have not understood the case and they have also not understood the gravity of the theft," said company counsel HN Tripathi.
"The stolen data is worth Rs.7.5 billion ($166 million)," said Tripathi.
"It seems they do not understand the value of intellectual property and they have not investigated the case properly," he said.
Now bull that is the bad thing which had halted the money meant for research and development.
The Acme Tele Power case is different, (its an IPR case), from the entrapment case of Channel 4. The UK unions are have a case of sour grapes, and unfortunately the business will continue move to India because it saves them tons of money.
Such cases will happen and gives ex-faujis like me scope for good corporate employment.
I in turn pass on a lot of business to a Pakistani vendor in Islamabad, an ex-Rangers chap, an excellent chap though.
"Tata Consultancy Services, TCS has announced its Q2FY07 results. The company's net profit was up 14.95% from Rs 862.6 crore (Rs 8.62 billion) to Rs 991.5 crore (Rs 9.91 billion), quarter-on-quarter, QoQ.
Its revenues were up 8.15% from Rs 4,144 crore (Rs 41.44 billion) to Rs 4,482 crore (Rs 44.82 billion), QoQ.
The other income was up at 77.32 crore (Rs 773.2 million) from 66.7 crore (Rs 667 million).
It has added 58 new clients and 6,663 employees in the second quarter."
this to let you know that our BPO and Software industry is as strong as ever.
A withdrawed $10Mn deal may not be that crucuial for the industry as you make out to be.
Kabhie chor nay bhee kaha hai kay mein chor hoon. For 5 pounds if they can sell data then we can easily evaluate what is the general public living standard is in India and especially there is so much talk about one of the fastest growing economies. hunm