L'AFFAIRE...SATYAM AND INDIA INC......

[Kalpana Heliya]

As India’s government, its corporate sector and its people has witnessed and are stunned after the founder-chairman of one of the country’s largest IT services companies admitted to years of falsified profits and an audacious financial fraud worth 7000crores.
What has happened is appaling, Its a wake-up call for Indian Corporate Sector.

The issue here is..... has the Satyam Scandal resulted in incalculable and unjustifiable damage to Brand India and Brand IT in particular???
Will the "whole of Indian industry tarred with the same brush"???

What are your recommendations for recovery and preventing such episodes in future????

[bharatkandoi]

i totally agree with u....................but things have to improve.......

[prasadgoa]

It is definately a wakeup call for Indian corporate world. This will surely going to damage brand India. There is need of change in corporate financial policy

[tashmeenchadha]

Well...
As far as the satyam affair goes its a clear case of failure of corporate governance.....
Corporates are carefull about everything in their organisation but fail to realise the importnace of corporate governance.
PWC consultants have cleary accepted their fault in auditing the financial results of the company.
for better Details on the case read the paper i-mint