The Economic Times apologised to UST Global for the incorrect story it published. The Bangalore Bureau of ET carried a story on UST Global on Monday, 25 August 2008, about the possibility of the Comcraft Group selling its stake in UST Global.

This report came at a time when UST Global marked its ninth anniversary celebrations over the weekend. This report caused major concern among employees and clients of the company. It was a totally baseless and irresponsible report according to the Sajan Pillai, CEO of UST Global. “The Comcraft Group and UST Global took this up with The Economic Times, and the Chief of Bureau has personally apologised to us for this misrepresentation of the facts by the reporter”, he Said

This is yet another example of irresponsible media reporting. UST Global is the biggest IT company and employment provider in Kerala. They started their operations in Technopark in the early 90’s when everyone considered Kerala to be an industry unfriendly state. Now UST Global is one of the major IT providers in India and it is also looking at acquisitions in India and abroad.