I always felt proud of India's IT industry. But Satyam case is the most forgettable one.
Satyam Chairman's letter to employees is an exercise in euphemism and hypocrisy. This is what Raju has to say about corporate governance:
'The board arrived at its decision to bid for Maytas by following all required processes and procedures, and while there was a spirited discussion among members, their vote to approve the motion was unanimous. Further, Satyam has won numerous awards for excellence in corporate governance, including the Golden Peacock Global Award for Excellence in Corporate Governance on two separate occasions, most recently in 2008.'
Do you really think your employees, or anyone for that matter, will believe you Mr. Raju?
Labels: Corporate Governance, Raju, Satyam