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Satyam is a 50,000+ employee company. When so much is written about it in the papers, declaring Mr Ramalinga Raju a criminal, how would this impact the morale of the employees?

It seems that everybody writing articles knows everything that has happened in this sorry case, but where is the empathy towards the employees?

This does not mean the issue should not be reported but one should also keep in mind that the lives and livelihoods of more 50,000 people are affected by every report that comes out.

No one is fool enough to believe that Mr Raju was alone in such wrongdoing, without anybody knowing about it either inside the company or outside (not only auditors, but also analysts like Forrester, Gartner, Black Book of Outsourcing, etc., which have brought out several good reports about this company). Also, one must remember that Mr Raju pioneered a free ambulance service, and has made a big difference to rural connectivity, literacy and healthcare through the work of philanthropic institutions he founded.

Journalism is about giving the unbiased and complete truth. It is often “the first rough draft of history”.

This scam being compared to Mumbai terrorist attacks is shameful and disturbing to the thousands of honest and hard-working employees and associates of Satyam who are still loyal to the company.

Abhishek Goswami e-mail

Role of board

The Satyam episode brings into sharp focus the role and responsibilities of statutory auditors and board members vis-À-vis corporate governance.

Statutory auditors are accountable to the shareholders and owe a duty to them to render a true and correct picture of the financial position.

Board members, on their part, should act on a fully informed basis, in good faith, with due diligence and care, and in the best interest of the shareholders.

These are the important learning points.

M. Ravindran Mumbai

More Stories on : Letters | Economic Offences | Corporate Governance

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