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Tuesday, Dec 07, 2021
Outlook.com
satyam scam

The Truth Serum Trials

Already the fraud of the century for India, what will be the final cost of Satyam's Rs 7,000-crore duplicity?

The Truth Serum Trials
The Truth Serum Trials
outlookindia.com
-0001-11-30T00:00:00+05:53

Before The Fall

  • Till recently, Satyam was one of India’s top 4 IT firms
  • Won Golden Peacock for corporate governance in Sept ’08. Now revoked.
  • Raju was the 2007 E&Y Entrepreneur of the Year
  • Was listed on NYSE, had big clients like GE, Nestle
  • Set up 108 EMRI, other corporate social initiatives

***

Sellout Unlikely Till Probe Is Over

Will Satyam survive?
Not in its current form. With a weak cash position, day-to-day running could become impossible. A sellout is unlikely till probe is over, though a management change by government diktat isn’t ruled out. Potential suitors are hovering around.

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