Well, one interesting report which points to a 'system' working! At the same time I just cannot understand how Mr Raju thought he could get away with robbing his flagship company to feed his sons companies! Ooops I am wrong; a public limited company is NOT Mr Raju's company; He just happens to be its Chairman! The cash in company is NOT his to give away to his relatives!
http://www.moneycontrol.com/india/news/business/experts-decry-satyam-maytas-deal-call-it-unethical-/371198
http://news.moneycontrol.com/india/news/business/govt-to-look-into-violationssatyam-maytas-imbroglio/17/05/371316
http://in.reuters.com/article/businessNews/idINIndia-37080020081217
More than anything I am happy to know that system was in place and it worked and the deal had to be called off; more so it would not have gone through any ways. Now they are also under scrutiny of the Ministry of Company affairs for probably violation of Company Act. The Institutional investors may also push for change in company's board too.
Good!
How much?
12 years ago
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