SATYAM .... MAYTAS ...

Coming as it did , it was a true shocker.A BOLT out of the blue sky!!!! Fourth largest IT company is absolutely nothing as it is now , fallen from grace so hard that it has pulled with it the country as well.The idea that a person magnified an organization's balance sheet in broad daylight without anybody even having a hint of it.... well this raises a lot of questions about corporate governance in India.One person's wish and thought today has literally brought to halt so many peoples dreams and the countries as well.Temporary it may be but still has the undesired impact on the country's image.SATYAM... MAYTAS ..the very word that symbloizes truth has become the symbol of deceit and untruthfulness.

The growth story sure has gone awry . With an already weakend Global economy having impacted Inida’s economy, this just takes it one step further .It is sure going to be a long and hard struggle for evey business to come back where they have been hit and move on from there. But yes it is time to take stock and be realistic. Over the days I have listened to various people speaking on this issue and it sounds as though they are determined to dig their own graves and sleep in it for the rest of their lives. Yes Satyam WAS ONE of the well known companies reflecting India and its growth story across the world but that in no way should undermine what others bring to the table.We are not just one of company.There are other’s who have done even better who can still go out there , proudly lead india’s growth story.Every country has had its share of corporate governance failures and we are not the first and we shall not be the last.

A nation of TATA’s , Infy’s and so on can do better than just keep wondering what hit it so hard. Its time we stop blowing one bad incident out of proportion.But as I do say that we move on I do also hope and wish that there is just one such bad apple in the lot and we don’t come across more.Its time we stop the rhetoric of what this has done and start looking for meaningful ways to tide over this nasty wave and march ahead into future.

The government has stepped in.But governments being what they are it is highly unrealistic to expect them to do eveything the right way and clear out things but lets hope .But the onus is more on the corporates themselves who will have to set straight a few things, have more self governance ensure that they do not forego values, ethics and business standards for the sake of unrealistic sense of achievements. Hopefully this incident turns out to be a good lesson and corporates learn from this. Well….just as is the case in many other issues in our nations ……Lets us WAIT AND WATCH!!!!!!!!!