Thursday, January 15, 2009

Satyam : the cheat!

Satyam is a national shame! The recent submission by their promoter and Chairman Mr Raju of the frauds he committed to the tune to Rs 7800 crore has tarnished the image of India Inc. But it is not limited to that alone, it has taken a huge toll in the confidence of investors and public in general. What is it? How come a corporate house, regularly being audited can cheat the public, their clients, the global market as a whole? Does it mean that a single man can take still the gullible public in general for a ride, if he is influential or moneyed!

The name of PWC or Price Water Coopers, their auditors who has been auditing them for years, has been indicted. Well that is also a corporate house, how about the Government agencies; say the income tax, the service tax, the sells tax authorities? Have they been sleeping. Styam has shown inflated profit, inflated sells; they must have accrued inflated tax liabilities, why not that has been checked?

Will our Government answer?

1 comment:

Everymatter said...

Yes i am agree to your views.

All government agencies should answer these questions