I was studying engineering when the IT boom happened. I saw it happen. And I knew the name of three companies only. Infosys, Satyam and Wipro! To me, they were the face of the emerging India. Narayanamurthy, Ramalinga Raju, Premiji represented the courage of the bold new India. They showed the way, and the rest followed.
And yesterday, Satyam lied! Blatantly.
Ramalinga Raju might not have taken money, but the damage he has done is HUGE. He betrayed the trust of lakhs of people. Not just the employees but the investors feel shattered. I am neither an employee nor an investor, and I am shocked! I can very well imagine how they actually feel during this time of inflicted misery.
No one ofcourse believes that only he alone is responsible. We are not that stupid too :D It's not like he sat in front of the computer and changed these figures! Even then, the guy who prepared the original results would know right! And then if he didnt question, is it not conspiring in the fraud?! It's all elementary, my dear Watson!
He goes on to explain that the bid to buy Maytas was to over come these troubles. Now, did Maytas management know about this? Well, given that it is majorly promoted by his son, I am assuming yes! So now Maytas is in a soup. And how much money gets drowned in that soup - my brain cannot comprehend!
And the numbers fudged are so large that I am still counting the number of zeroes :D Rs. 70,00,00,00,000/- :O :O :O :O
The law will obviously take its own course, but the damage that Ramalinga Raju inflicted on the Indian IT industry and the market as such will take a long long time to repair. Seriously, whom can you trust now?
And yesterday, Satyam lied! Blatantly.
Ramalinga Raju might not have taken money, but the damage he has done is HUGE. He betrayed the trust of lakhs of people. Not just the employees but the investors feel shattered. I am neither an employee nor an investor, and I am shocked! I can very well imagine how they actually feel during this time of inflicted misery.
No one ofcourse believes that only he alone is responsible. We are not that stupid too :D It's not like he sat in front of the computer and changed these figures! Even then, the guy who prepared the original results would know right! And then if he didnt question, is it not conspiring in the fraud?! It's all elementary, my dear Watson!
He goes on to explain that the bid to buy Maytas was to over come these troubles. Now, did Maytas management know about this? Well, given that it is majorly promoted by his son, I am assuming yes! So now Maytas is in a soup. And how much money gets drowned in that soup - my brain cannot comprehend!
And the numbers fudged are so large that I am still counting the number of zeroes :D Rs. 70,00,00,00,000/- :O :O :O :O
The law will obviously take its own course, but the damage that Ramalinga Raju inflicted on the Indian IT industry and the market as such will take a long long time to repair. Seriously, whom can you trust now?
1 comment:
sudhir where is the update
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