It is on the 7th January 2009 the Satyam fraud was out, more talked about mismanagement ! One year has gone by now. Kudos to the Government, Mr.P.C.Gupta & Mr.Anurag Goel for taking immediate steps to revamp the board and making sure that the company is up and running to bail out the customers and employees.
There were lot of learning from this incident. The Ministry took quick calls and made sure that the legal provisions will not stand in the way of revamping it. It identified the learned people like Karnik, Parekh, Achuthan, Manoharan, Tarun Das, and others for the Board and made sure that the company is not in problem.
Thanks to Mahindras to take it over and made it possible to put it back on rails.
Today with the case is still going on, auditors working to restate the financial, no one knows the exact impact.
Satyam is an aberration and cannot be generalised. Wish this is one of case and the industry boom in the years to come.
It was this Satyam episode which prompted me to start the blog !!!
Cheers,
Gopal
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