FINANCIAL BLAST !!!!!!!!!!!!!!!!!!!!
The 7000 Crore Satyam Fraud has not only tarnished the very meaning of Satyam,the first of the three words describing GOD,himself(Satyam,Shivam ,Sundram) but has crashed and blasted all that stood in the name of truth,atleast in the eyes of the common man.
It may have not killed any,but its impact is akin to the aftermath of the Mumbai blasts,or even worst!The Mumbai Blasts left behind a perpetual scare in every mans mind,and this astonishing scandal besides leaving thousands jobless,and millions paupers,has created a great financial insecurity amongst the masses.
One has become accustomed over the last decade to scams running into hundreds and thousands of crores,but this is the Father of all Frauds,which has left the world numb,dumb and scaringly shocked!!!!!!! If the fraudulent accounts of such mega organizations can skip the vigilant hawky eyes of the financial auditing wizards,then no accounting or auditing system of the country of the world is above suspicion!
Its not only the investors or the employees and others related to Satyam,who have been affected,but this financial blast has created an undesirable state of disbelief in the complete corporate world,and a distrust in the investment system and stock market,that will prove to be highly detrimental for the economical growth of the country.
Besides taking all possible steps to revive the firm,and to gain back the trust of all concerned,the culprits should be given exemplary punishments which may prove to be great deterrents for all in future,to even dare to convert the Satyas of the financial and corporate world to Mithias!!!!
Col Sanjay Kapoor VSM,Lucknow
do not worry cooper we have more such good work being exposed sooner than later
Dr R ranjan
sanjai
v hv seen nothing
corporate world is full of satyam shivam and sundaram of greater magnitude
V P Singh
Well said. I agree this was just the ‘Father of all frauds’. I still think that the ‘mother of all frauds’ was this Madoff guy with his Ponzi scheme in New York(50+ billion dollars). Mr. Ponzi(died 1949) must be rolling in his grave though the biggest ponzi scheme in US is still brewing–the social security system(my social sec. tax is paying for the current retirees.).
Regarding Satyam,I really think the auditors(price water house) should pay for all the losses. How can they not see that $ one billion is missing for all the fees they charge?
Ashwani