Only The Truth

A competent look at most angles and stakeholders in this scam
The Satyam Saga
By Bhupesh Bhandari and Others
BS Books | 186 pages | Rs 395

The funny thing is no one has yet figured out what made Satyam’s Ramalinga Raju do what he did. Many people interviewed in this pithy compendium by Business Standard’s senior editors only have good things to say about the perpetrator of one of India’s largest corporate scandals. Why did the “proverbial good boy”, painfully shy but ruthlessly efficient, confess to his crimes? Is there a hidden deal we all don’t know about? And will anything get done to ensure that the laws and systems keep pace with ever-evolving corporate fraud?

Advertisement

Given that it’s instant history, this is a competent look at most angles and stakeholders in this scam, from Raju’s personality and modus operandi to the regulatory oversights and eventual rescue by the government. Thankfully, for now at least, there’s focus on sorting out sloppy systemic regulation—a crucial factor as India’s corporate landscape is “dominated by family-owned/controlled businesses just like Satyam”. Raju is not, as many in India Inc are projecting, one bad chap in a sea of saints.

Prosecutions should start soon in this case. This book is a reminder for an ever-cynical public. I have two quibbles though. One would have expected a lot more on Raju’s interface with AP’s political bosses—there is surely a spicier cocktail of patronage that deserves to be told. And for all the systemic failings, should not there have been something about the media’s role in this sorry saga?

Tickle Them Pink Ocean’s Peek
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
REVIEW
Review
Taslima’s solipsistic atomism jars, but one must admire her spirit in the face of slimy intolerance
MAGAZINE December 01, 2016
Review
The autobiography of one of our top scientists avoids scientific matters, or even the state of Indian scientific research. It’s just a roster of his many accomplishments.
MAGAZINE December 01, 2016
Cover Story
An extract from the chapter ‘Why did the CBI avoid (capturing) ­Sivarasan?’ from Rajiv Gandhi assassination convict Nalini Murugan’s ­recently released memoir, Rajiv Killing: Forgotten Truths
MAGAZINE November 25, 2016
Review
An account of late imperial hypocrisy has interpretive errors, but is valuable for the British story
MAGAZINE November 24, 2016
Review
Devdutt Pattanaik’s eminently readable book compares the Indian and Greek myth systems to find convergences and divergences, all through an Indic prism
MAGAZINE November 24, 2016
read more>>>

OUTLOOK TOPICS :

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9

or just type initial letters