Monday, December 29, 2008

Not good for business

That the Raju family, owning only 9% of Satyam Computer Services, is able to control it fully, underlines the malaise in the Indian private sector

The blow to Corporate India could not have come at a worse time. Still reeling from the impact of the growing global financial meltdown, the greed of the managers of Satyam Computer Services, the country’s fourth largest information technology company, has yet again brought into sharp focus issues of corporate ethics and governance.

In a move reminiscent of the pre-economic liberalisation years, Satyam managers sought to palm off two troubled family-owned real-estate firms to the cash-rich IT giant, plunging Satyam’s share price to a five-year low.
To read more, please, visit - IndiaDiary

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