Tuesday, January 13, 2009
Satyam Computer Ltd is termed as the ENRON of India. Enron was a big company and it also cooked its books and was exposed as a gigantic fraud in corporate history. Satyam is facing similar situation and faces lawsuit galore.
Satyam deserves to be rescued.Unlike Enron which was running in loses, Satyam had managed to make some profits. Rescuing such big company is no child's game. But, it must be done not for the sake of its reputation , but for the sake of its employees and the IT sector.
The government has done its job by appointing new board of directors.The best way, that I feel to rescue Satyam is for the government to consult N.R.Narayana Murthy.
Yes, he is not in the new board of directors appointed nor is he interested.But, I think he is the person who has the capacity and credibility to rescue the company from its current plight.
As they say, it is better to save the ship than just salvage something from the wreckage.