Well, lots and lot of reams have been written about Satyam and albeit the IT industry in particular. Its nobody’s case that Satyam is a fraud of unheard of magnitude and proportion and the basic questions that haunts us is whether this is only possible with two brothers and a CEO.
My take is this. What we see is just a tip of an iceberg. There is an overall view that Mr. Raju would not have wanted everyone to be booked and given the stringency or the validation of the crime and the consequences he was a willing partner and nothing else.
For once IT industry is taking the beat to the heartiest satisfaction of all the other sectors. This was one industry which thought of sharing the profits at much larger chunk than any other industry would have ever dreamt of. Was that a little too much for the kind of employees they had. May be. Still it has to be understood in the light of Satyam Scandal. The IT companies have always been working to make the biggest profit in an economic situation which calls for better rationalisation. That has always been possible by charging the clients a huge fee by Indian Standard and a cheaper fee by American Standard. The best was yet to come when the companies decided to work with ESOP. At good times ESOP is best alternative to cash.
to be continued..