Satyam – Get the gyaan
It is clear from the Satyam fiasco that fear and the share index were the cause of the deadly debacle. Fear, of being taken over by another company and the greed to excel at the stock exchange. What makes men cheat? Even a seasoned, senior chairman like Ramalingam Raju had the nerve to break all the rules. This happens only in India. That is because of a defunct judicial and legal system where no one is answerable and corruption is a way of life. The management of Satyam has escaped the trap. Most of them have US passports and have flown away to far away locales. Raju, however, cannot escape arrest and may be down and out for the next ten years. After the SEBI, the auditors and various other agencies, the case is now in the hands of the Crime Branch CID. Industry experts also allege that there is more to the story and funds may have been siphoned off from Satyam.
The case is so bad that the US SEC (Securities & Exchange Commission) is to investigate the accounts. Most industry experts agree that the case is an aberration and will not have any long term implications in India. The auditors, finance officials and company secretaries are up for serious trouble, if found guilty of fraud.
Get MyBandra Blogs by Email - CLICK HERE
The company has more trouble ahead. It is said that the debtors of Satyam are having a hard time to get the payments that are due to them. Various companies have to receive 253crores from the tainted company. Some international experts however, fear that the fiasco may affect the Foreign Direct Investment in India.
India, which was previously considered a hot place to do business, may face the fallout as its reputation as a country with integrity is being rapidly eroded by such shocking scams.
Neha Singh
For latest IT jobs - Click here
For Academics, Education, Study Abroad Click Here
For Admission Notices Click Here
Click here for MyBandra Home Page, Bandra Classifieds and Bandra Events
Recent Posts
Jobs at Yahoo, TCS, Patni and SBI
Baby steps to the journey within - Yoga Class at Bandra
Dates and Time Table for Maharashtra CET Exam Announced
MHADA sells the highest number of forms, they have ever sold in a single day.
Know the stars behind Slumdog Millionaire
5 Tips to deal with Recession Stress
Blogs on Bollywood , Shopping, Bandra Worli Sea Link, Eating Out
