Riding the Tiger
What a shame to the name of the organization.” Satyam” becoming “Asatyam”. Unfortunately I also bought some shares of the company thinking that this is not going to fall. Falsifying the financial statement of a company listed in the stock market should be treated at par with a criminal offence. You are playing with some else money.
It is not possible that the audit firm did not get the whim of the gaping holes in the system. All are equal partners in the crime. Is the end of India’s IT bubble? Hope it is not .And on top of it the person who is responsible for it Mr Ramalingam is absconding. Nobody knows where he is? This happens only in India. I just hope they ban the Audit firm.
What about the employees .In this time of recession will they be able to find another one. I just hope that they will. And also hope this episode will not create a chain reaction of sort and many more skeletons come tumbling out of cupboard
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Surely there are many more people involved in Satyam. There are surely more companies, which do these kind of things. Lets wait and see what 2009 holds.
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