UK-based World Council for Corporate Governance that bestowed Satyam Computer Services Ltd its highest honour—the 2008 Golden Peacock Global Award for Excellence in corporate governance—in September, plans to reconsider the decision after serious questions over lack of governance at India's fourth largest technology outsourcing company.
If its board concludes the award was undeserving, given recent questions about Satyam management's attempts to use company money to buy two firms owned by the family of Satyam chairman B. Ramalinga Raju, the Council may ask Satyam to stop using the award in its branding and publicity.
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