Wednesday 24 August 2016
facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

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?

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?

READ MORE IN:
AUTHORS: Sunit Arora
SECTION: Books
SUBSECTION: Reviews
OUTLOOK: 05 October, 2009
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
Extract
How a brutal LTTE directive was lost in the static of intelligence
MAGAZINE August 18, 2016
Review
A RBI governor remembers his doughty fights, but cuts down on the math
MAGAZINE August 11, 2016
Book Extract
Abused by a relative at six, Laxmi saw how patriarchy tried to crush her femininity. And she made it come back to crush them, ‘those straight men with wives and kids’.
MAGAZINE August 10, 2016
Review
Woven around the many facets of Shashi Kapoor whom most readers would have known only as a star.
MAGAZINE August 04, 2016
Review
The value of Visvanathan’s essays lie in their playfully fresh insights
MAGAZINE August 04, 2016
read more>>>
OUTLOOK ON TWITTER
POLLS

Finally, political parties came together to pass the Goods and Services Tax in the Rajya Sabha. The much-vaunted tax reform is said to have turned India into one common market. It is said that the GST will replace more than 15 state and federal taxes. So will GST lead to #AchcheDin?

POLL STARTED ON: Aug 04, 2016
Quiz
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016
Advertisement