DISQUS

Prasad · 11 months ago

Hi Sathya,
I got introduced your blog very recently after sathyam debacle. I enjoy reading your posts constatntly. Very happy Pongal.

-Prasad

triplicani · 11 months ago

Hi Prasad,

Welcome to my blog.

Thank you and I wish also a very happy Pongal.

AK · 11 months ago

Hello Sathya,

Your articles are very informative. I think the questions regarding PWC should be
'What is the need of an auditor if they are relying on 'company provided explanations and verbal and written representations' ?. Heck, in that case, you can pull someone off the street and ask him to be the 'independent auditor' for a couple of smokes and a cup of chai instead of paying several million rupees and retaining PWC. The job of PWC was to simply ask 'show me the money' which they seem not to have done..

This is what happens when greed takes over and we end up in moral bankruptcy. There is no doubt this scam required financial engineering and co-ordination between the board, auditors, bankers, politicians and the board of Maytas.

The obvious immediate action should have been freezing assets owned by Satyam and Maytas board members, their families, requiring them to surrender their passports to the Indian government till their statements are recorded.

Shocking revelation that this is not Raju's first scam and he had siphoned off Government money in his textile mill venture shows once a scamer always a scamer.

Bah! I am fed up of seeing scams every day..absolutely no Satyam left in this world..literally.