Sometimes, its hard to believe how the very best of companies fall like pins! Satyam has been India's success story - no one can dispute its top 5 status even now given its talent base, clientele, geographical presence and offerings. Yet, one man who built from scratch was responsible for its fall overnight!
While legal agencies may establish truth and the board may establish credibility and impose the ethical way, it still baffles me as to why the entire thing happened in the first place. Is it greed on part of the individual promoter or is it pressure from sons/family which led the exercise? Maytas for sure had its green days because of Satyam, its capital which was fraudulently transferred(if media reports are to be believed). But, why would a promoter of a multi-billion dollar company use such fraudulent means to invest in a company which is not even half its size? There are many more questions to be answered, but these would probably never be as the matter is sub-judice.
For one, I would strongly recommend Satyam promoters to take up a teaching role in a B-school. I am sure many would learn from their mistakes and realize the importance of ethics in business. B-schools can teach a number of case studies, but none can teach ethics per say. As I write, there is a sense of displeasure on what transpired. What was once a top-notch truly global IT company is today looking at potential acquirers! This is certainly the worst thing to have happened to Indian IT.
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