I read the letter by Ramalinga Raju to the board of Satyam Computers. If I was an employee of that organization I would be chilled after reading it. I would probably be filled with anger which would gradually turn to fear, when I would realise that my earning is at a risk from the next month. Raju claims that he and the managing director had not taken a single "rupee/dollar" from the "inflated" figures. But does that give him the right to play with the livelihood of around 53,000 employees? He himself is secured financially, what about the shareholders and the employees? He mentions about "riding a tiger, not knowing how to get off without being eaten". He should have realised this, when this thing had yet not become a "tiger", but was merely a cub. His confession came only when he had no other option left to hide this fraud. Had he been able to manage, he would not have even cared to come out clean on this issue ever. Thus his confessions today, should not be taken on a sympathetic note during the proceedings that follow.
How is it possible, that such large scale account manipulation went undetected for several years? Questions are being raised on PwC's (Pricewaterhouse Coopers) role, which audited the accounts of Satyam. They are equally responsible, as much as, Raju and Rama. This also shows that corporate governance is a total sham in our country.
I wish the "big 3", of the Indian IT chip in if required, to get Satyam merged into themselves, for the sake of the employees and "to keep the wheels moving".
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