Infosys rules out 'tainted Satyam' buyout

The country's second largest software exporter, Infosys, on Wednesday ruled out the possibility of buying Satyam saying the IT major "will not touch any tainted company".

"We have no such interest in looking at buying Satyam... absolutely not... We will not touch any such tainted company that's very very clear," Infosys Founder and Chief Mentor Narayana Murthy said in an interview to a private television channel.

He said that the Satyam incident will not have an backlash on the Indian IT sector.

"Every company, certainly large companies, they have very close relationship with customers. The CEOs and senior management of the Indian industry have a close relationship with the senior management of the customer companies...

"We have a lot of transactions where we have demonstrated class, quality and integrity, so I don't think all of that will be destroyed just because of one bad apple, because there is one Satyam," the non-executive chairman of the company added.

Talking about the course of action following the Satyam fiasco, Murthy said the need of this hour for the regulators is to act decisively.

"The most important first step for regulatory authority of India is to get the bottom of this and take a swift and decisive action to bring the guilty to whatever punishment they deserve," he said.

Murthy said that the IT industry has to communicate to their investors and customers and all potential investors that Satyam is indeed an isolated case of misgovernance and must all be prepared to answer further questions so that the investors get an enhanced level of comfort.