Satyam Episode

A Satyam Survives

Satyam survives! It was an happy end. Tech Mahindra needs to be applauded for winning the bid to takeover Satyam. Given his background, Anand Mahindra will surely drive Satyam to the right path and ultimately to right destination. Having said that, I am just struck by the speed with which the Satyam episode was handled. I couldn't recollect any single incident in which the agencies acted in unison and in such a quick way. Corporate India is replete with cases where jobs were axed and plants shut down. The authorities never shown the same sense of urgency and keenness in ealier instances (where closures were primarily due to business reasons) as they did in the fraud-hit Satyam case. One gets the feeling that somewhere along the sale of Satyam was expediated in the guise of saving jobs. While doing so, they have succeeded in sweeping under carpet the financial shenanigans of the worst kind seen in Indian corporate history. The sale appears to have covered up the misdeeds of very many players in this entire episode. As days go by, the (a)Satyam in this corporate chapter will be forgotten.