Thursday, February 5, 2009

SATYAM....where is the Truth headed to????

Its been a while since I have written on the blog…… excessive travels & other activities had kept me completely engaged. The year 2009 has begun with so much of action for India. Some good & some real stinkers.

One of the stinkers, has been the Satyam fiasco. At a time, when India along with the other economies of the world is struggling to come to terms with the recession, Ramalinga Raju pulls the rug off the feet. He comes out in the open by resigning from his post & admitting serious financial wrong doings. Financial wrong doings in excess of 7000 crores!!!!.....and little by little its coming out on how he managed to do so. Forged salary pay outs every month over the years, fictitious assets, inflated cash bank balance, Maytas acquisition deals( all within family ties), movement of FDs, prominent top brass of Satyam selling off stakes couple of days before Raju makes his announcement of resignation & fraud, & so much more.

It all appears to be a systematic approach by Raju & his accomplices (I am sure there are multiple people involved along with him, in this racket). Someone who seems to have planned out the whole operation to the T. I believe, he has enough political clout to see him through all this interrogations, & legal implications. Maybe, he will be jailed for a term, but once he comes out, he is clear & merry & smiling with unimaginable wealth siphoned off. What needs to be seen, is whether our judiciary is able to nab the culprits in time & make an example of this whole fiasco. Whether Lobh(Greed) creates new bench marks or finally Satyam(Truth) prevails. Kali Yuga & its effects !!!!!(I had written on this before)
Thousands of employees are suddenly in the face of a murky & unknown future….with the industry wilting under the pressures of recessions…all of these professionals are under severe duress. I believe, the current interim management has managed to give out the salaries for January, to all employees across the board. The February salary would also come thru, maybe in two installments, is what I get to hear from close circles. However, there are huge speculations of large numbers of employees getting laid off soon.
With L&T raising its stakes in the beleaguered company, & the new interim management committee under Deepak Parekh, trying to restore parity to the mayhem that has been created, we all can pray & wish that Truth(Satyam) will finally prevail.

Incidentally, as an initiative, APEX, the corporate wing of the Art of Living Foundation, is organizing various customized programs exclusively through Satyam Learning World. Initially these programs would be run in Hyderabad & later to all site offices of Satyam across India. These programs have been customized keeping in mind the current economic situations prevailing in the world. If anyone needs any details on this, do get in touch with me directly.