Indian Government Asserts Itself: Arrests Raju

Hats of to the Indian Government. At least this time, they are responding better to the crisis. Now this is a start to the other roaming with fame about entrepreneurship.

Hey India, don't worry! The headlines could have read this- "ILLINOIS GOVERNOR ROD BLAGOJEVICH IMPEACHED BY A COUNT OF 114 to 1". And don't forget about the USA's one & only- "Bernard Madoff"!!! The USA will ALWAYS be #1 in FRAUD & CORRUPTION! Happy New Year from the FBEye!

I believe it will not give any setback to India's capability. Its a greed of one person. We should not bring everyone in Satyam to his level nor Indian companies too. Each country has seen up and down. Now its India's testing time. India Incorporating has to learn a big lesson from this fraud. Conduct utmost corporate ethics.

Murugan

Just returned from India and this news has been making headlines since the World Bank has barred Satyam from doing offshore work. The reports said the bank had taken this decision after noticing reported intrusions into systems. I don't doubt a bit. After Nigeria, India produces the most crook minds be it in business world or under world. I am glad to hear that Andhra government has taken this bold steps to arrest them.

Interesting how foreign governments handle these things... In China they find lead paint in toys, the the head of consumer products shoots himself. In India, the have a "paltry" billion dollar scandal, and the run the guy and his brother straight to prison, and start tearing the company apart to get it fixed. They don't waste time messing with investigations, house arrest, or SEC investigations.

Believe me! This is only the tip of the iceberg in India. More are soon to follow. Who's going to believe when it comes to greed some how Indians are incapable of it. This world fianacial crisis is exposing all the bull in the world. So India is going to no different.

Bring back the British; EVERYTHING worked so much better under them!

I guess, we (US) can learn something from this. Those who cheat the system and make misrable for others do not need house arrest. They need to go to prison right away.

Satyam scandal can be attributed to a culture of 'Yes Sir, Yes Sir, 3 bags full'!!

In most family run companies in India, the decisions of 'Head of the family' can never ever be questioned. And if the 'Head' has created an impression and carries an image of someone who can do no wrong - this is the consequence. This culture is unlikely to change.

Perhaps, for all the aura of Corporate Governance, there was complete lack of 'Freedom' to question the Chairman and Family member's actions. This is endemic of companies in India. Perhaps, investors need to be mindful of this, specially where family members have controlling stake.

It is not Ap Govt. It is the Investors who lost their hard earned cash

It is not correct to say that without knowing full facts that Mr. Ramalinga Raju alone is to be blamed on his own admissions of the fraud. Through investigation is needed which is impartial and independent. Real culprits will be known and need to be taken strong action against them. Afterall one should not forget the various AP Govt. projects have been funded by Satyam. How the funds been transferred to these need to be probed.

Whatwill the government do if the political parties have stake in the Satyam fiasco?

http://reddy2007.blogspot.com

What will the government do if the political parties have stake in the Satyam fiasco?

http://reddy2007.blogspot.com

I read the posts above. It is not right to call Mr. Ram as greedy as he didn't put a single rupee in his pocket (as per the news). He just tried to save the company in a wrong way. He did wrong and should be prosecuted but he can not be treated as criminal who commit murder.
This problem is not about India. We are human beings and each and every country produces same percentage of good and bad people. The only this is the statistics which is available in public.

I read the posts above. It is not right to call Mr. Ram as greedy as he didn't put a single rupee in his pocket (as per the news). He just tried to save the company in a wrong way. He did wrong and should be prosecuted but he can not be treated as criminal who commit murder.
This problem is not about India. We are human beings and each and every country produces same percentage of good and bad people. The only this is the statistics which is available in public.

I read the posts above. It is not right to call Mr. Ram as greedy as he didn't put a single rupee in his pocket (as per the news). He just tried to save the company in a wrong way. He did wrong and should be prosecuted but he can not be treated as criminal who commit murder.
This problem is not about India. We are human beings and each and every country produces same percentage of good and bad people. The only this is the statistics which is available in public.

Till today, India was heaven of corrupted political leaders. Now Business leaders joined in that club. Police has already joined in their team. Hurray !! India is shining ....

I agree Corporate Accountability has much more tangibility abroad.

this is much deeper issue than two or three people, because what was involved. I am accountant by trade and can tell you by magnitude of this fraud it makes you think more people were involved. The only way India is going to bring credibility into there system is to enforce better corporate governance along with public accounting boards to oversees audits/accounting firms. No system is full proof, but if you make penalties severe it could ask as deterrent. Our capital created this issue of greed and we need to ensure greed is temper with risk/regulations. Developing countries as well as the G-7 need to look at cleaning their house and imposing more regulations on wall street. Absolute power corrupts people absolutely

These crooks in India will be bribing the police and politicians(that does not exist in U.S, once arrested) like all the other rich and famous crooks do in India and will be out of jail in no time. The rich in India do not have any concious, so these brothers will be out of jail and continueing there business in no time.

I am sure Parnab Mukarjee will find a link of Pakistan involvement in Satyam scandle tooooooooooo

Really sad.

India Inc's reputation is destroyed.

Will people invest there?

Will any western company now outsource?

Where will India go now?