Friday, January 9, 2009

World class built on fraud

Satyam is a company which employs 53,000 people. It was one of the top 5 IT companies in India. It was voted as one of the best companies for training and development. It was voted as one of the best in terms of service delivery and quality. It boasted of more than 185 companies from fortune 500 as its clients. A world class organization but built on the foundation of fraud. 
One man or few men committed the fraud. If you take these men out of the equation Satyam will still remain a world class company. If given to a management like Infosys, it will continue to service its clients to their satisfaction. It will continue to employ its 53,000 staff. It will continue to be one of the best in terms of training and development. Should the employees, clients and investors pay for a crime committed by few men. Prosecute these men but save the organization. Satyam is one of the best company in its space and if given a chance to survive might come out as one of the top IT companies in India and world. 

In addition to criminally prosecuting the promoters of Satyam, law should also attach Maytas and other companies owned by them, liquidate and use the cash to pay off Satyam's investors and employees.  Wouldn't that be a fitting penalty? And a great message to all other current and would be fraudsters to clean up their act. 

1 comment:

Word Dancer said...

It only takes a few bad apples to ruin the rest of the basket. What is it about having so much money that makes people think that they are invincible?