Satyam Computer Services has shared the disclosures it made earlier to bidders with its public shareholders. Tech Mahindra had then emerged as the successful bidder and subsequently made an open offer to Satyam’s shareholders.

“Wipro discloses vendor status with World Bank”. That’s the headline of the release issued to the Bombay Stock Exchange. But for Satyam’s run-in with the World Bank, few would have opened the attachment. Its contents are a shocker The World Bank has declared Wipro ‘ineligible’, in June 2007, to bid for direct contracts for four years ending in 2011. Ineligible is a mild term for a ban, which is what it is. Wipro’s disclosure shows a can of worms waiting to be prised open in several parts of corporate India.

Software services provider Satyam Computers has postponed today’s board meeting to consider a buyback. Its chairman, B. Ramalinga Raju said that considering the questions that have been raised in the past two weeks, the need for them to be properly addressed and considering the interests of stakeholders, the company is broadening the scope of deliberations beyond a buyback.

The US FDA had issued a warning letter to Sun Pharma’s subsidiary Caraco Pharmaceutical Laboratories on Oct 31, 2008. The letter is now available on the FDA site detailing the reasons why the warning was issued. It points out deviations from current Good Manufacturing Practice (CGMP) regulations for medicines. These deviations were detected in an inspection between May 1 to June 11 2008, and are mainly due to issues related to quality control.