The FT carries articles on the Satyam scandal in India. This link is to one of those articles. Satyam is being termed India’s Enron. It brings into question the role of PwC  Satyam’s long time auditor. Major Fortune 500 companies were clients of Satyam.

Apart from governance issues and the strong possibility that Satyam may not survive, there will undoubtedly be fallout for other Indian firms, plus possibly log-term impact on the whole offshoring sector.

It highlights once again the governance issues that arise if problems arise at the top of a company.

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2 responses to “Satyam

  1. The Government of India has decided (or is deciding) to give 2000 crores to bail out Satyam which most of us would appreciate.

    However, farmer suicides in our country since 1997 to 2008 total 1,82,936. Those farmers WERE NEVER BAILED OUT.

    Dr Rudhran examines the correlation from a common mans perspective:

  2. Pingback: Satyam:India’s Enron? « Some Thoughts - Peter Salmon’s Blog

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