Rise and Fall of SATYAM
-----Views of a Disappointed Shareholder-----
Interestingly the answer for the below questions is the very same Satyam.........
What is the youngest billion dollar company in India ?
Which company posted biggest corporate fraud in the history of India ?
It is very evident that every company cooks its accounts books. But cooking public money/interest for Promoters/investors interest. Who is working day and night to get profits for the company? At the end of the day who is taking advantage of it ?
A shot in the arm for corporate governance in India and Auditing practices. Who ever is auditing Satyam accounts should also be brought under scanner and punished if proved wrong. Satyam fraud reminds of Enron fraud, both are same lines actually. Check for this historic scandal here
http://en.wikipedia.org/wiki/Enron_scandal.
Promoters, Auditors should be held responsible for using public money and exploiting employees. You can check interesting opinions in the below article as well.
http://hyderabadi-inside.blogspot.com/2009/01/satyam-computers-tale-of-asatyam-big.html
So readers all said and done, every body knows how to save their base. Its employees budding dreams and investors hard earned money at stake. I care a damn who takes responsibility for it Satyam board, independent directors, SEBI, Stock Exchanges, Auditors, Government (lack of rules on corporate guidance).
As i cannot finger point on my role model (once, not any more further) MR. Ramalinga Raju, i can only say below line to him.
Sir,
Thank you for your hard work in cooking Satyam Account books.
Interestingly the answer for the below questions is the very same Satyam.........
What is the youngest billion dollar company in India ?
Which company posted biggest corporate fraud in the history of India ?
It is very evident that every company cooks its accounts books. But cooking public money/interest for Promoters/investors interest. Who is working day and night to get profits for the company? At the end of the day who is taking advantage of it ?
A shot in the arm for corporate governance in India and Auditing practices. Who ever is auditing Satyam accounts should also be brought under scanner and punished if proved wrong. Satyam fraud reminds of Enron fraud, both are same lines actually. Check for this historic scandal here
http://en.wikipedia.org/wiki/Enron_scandal.
Promoters, Auditors should be held responsible for using public money and exploiting employees. You can check interesting opinions in the below article as well.
http://hyderabadi-inside.blogspot.com/2009/01/satyam-computers-tale-of-asatyam-big.html
So readers all said and done, every body knows how to save their base. Its employees budding dreams and investors hard earned money at stake. I care a damn who takes responsibility for it Satyam board, independent directors, SEBI, Stock Exchanges, Auditors, Government (lack of rules on corporate guidance).
As i cannot finger point on my role model (once, not any more further) MR. Ramalinga Raju, i can only say below line to him.
Sir,
Thank you for your hard work in cooking Satyam Account books.
Comments
As an IT professional we must say thanks to Mr.Raju's innovative idea in bringing up the company to new heights and such a disgrace to make the path to fall!