The Satyam fiasco should not be taken as a one-off aberration in our corporate history. It should be viewed in the context of the regularity with which such practices have continued to take place in the unbridled and exploitative capitalist system starting with Enron to the Madoff fraud.
The global meltdown is a by-product of such corporate practices, which are apparently overlooked due to insufficient regulation but, in actual reality, because regulators look the other way. There must be quite a few corporates who may be “riding a tiger” (to borrow Ramalinga Raju’s captivating phrase), confident of dismounting at the appropriate time.
I invite you to share your views so that SATYAM episode is not repeated?
CAclubindia
