SATYAM Fraud :: a Shocker
Posted January 7, 2009on:
It was really a shocker to hear the news of Tax Fraud the Satyam chairman and CEO, B Ramalinga Raju, admitted today. The Impact of this is expected to very vast and may even be a retarding force in the growth of Indian IT Sector. Considering the Financial crisis this was the worst time this Fraud could have come out.
The Government should take steps to ensure that No Fraud like this will ever take place even in Private sector. the Laws of the country needs to be tightened and executed efficiently to avoid such frauds again. Strong action should be taken against Raju so that it will be a lesson to rest of the country
As Raju himself said “It was like riding a tiger, not knowing how to get off without being eaten” Now he has got down of the tiger and is being eaten. How hard the bites can be thats the question.
Lets hope we will not have to hear such a Worse news in future.