Business Daily from THE HINDU group of publications
Monday, Jan 12, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Jan 12, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Opinion
-
Letters Accountability It is very sad that the year 2009 started with the loss of thousands of jobs, with the fall of Satyam. In the present economic scenario this would have a considerable impact on the economy. With many people in different sectors losing jobs every other day, this would add to the list of the many woes that have befallen the Indian market. Even after the different scams in the financial sector in India, and increasing presence of the market regulator, it is hard to digest that one man could manipulate the company’s balance sheet, that too for the last few years. Also, it is ironic that the Directors on the Satyam Board, who are well-known figures in Indian business and experts in management, did not know of the happenings.
P. S. Krishnan e-mail No justificationIt is not fair to justify what Ramalinga Raju did just based on his charitable work or his giving employment to 50,000 people. He has defrauded millions of investors by giving false statements about the company. This includes public institutions such as LIC, where the unsuspecting public has lost money. Since now he has been arrested he can disclose all the facts, including the bank statements. Analysts give reports on a company based on the figures statutorily reported by the companies. The responsibility of the correctness of these statements lies with the management, auditors and audit committees. If they have not carried out their duties they should be punished. But the main perpetrator of this fraud has to be prosecuted severely or our international image will be severely dented. Siraj Mohammed Kozhikode More Stories on : Letters | Economic Offences
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
