Wow 7000 Crores in 7-8 years.
This is because of the pressure on Indian IT companies to grow by 30-40%. Yes, IT outsourcing can be a big market in US/UK, But growth should be steady and people should not expect all companies to grow at the rate. Please have less expectations on Indian Companies, Yes Indian companies are growing, but do not expect at 30-40%.
I definitely do not know how many more companies are in the line. How many big more companies and how many more auditing firms?
All companies choose their own independent directors and they choose a person who is amicable and go with their decisions. This should change, Probably government should appoint a independent director in all companies to protect share holders interest (for publicly listed companies).
I personally feel, the indenepdent directors know about this scam and so is top Satyam management. Raju was not only falsifying margins, he was falsfying operations to support the margin/revenue. Definitely Satyam top management, even current interim CEO know about it.
What a waste? We should learn from Enron/Worldcom and other countries and we need Strong act like SOX in India right now.
Satyam in Sanskrit means truth.... :-) What a irony?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment