The truth shall prevail?: Review of the resurgence of satyam, Global IT Giant

Abstract

large part of Zafar Anjum's book, The Resurgence of Satyam: The Global IT Giant, is dedicated to dissecting and reconstructing the modus operandi of the fraud. At one level, corporate frauds are difficult to pull off. There are thousands of employees, control systems, auditors, analysts, regulators and the board. A look at the history of corporate scams reveals reams written about corporate governance, golden peacocks and the theory of independent professional boards. Reading about scams is titillating at the base level; at a cerebral level, it is introspective. The case of Satyam is no different. A large part of Zafar Anjum’s book, The Resurgence of Satyam: The Global IT Giant, is dedicated to dissecting and reconstructing the modus operandi of the fraud perpetrated by Ramalinga Raju. The reconstruction effort gets relatively less pages. It would have been interesting if his research had understood the homework done by the Mahindras in the run-up to the acquisition. How does one evaluate a stake in a company that was opaque and fraught with fraud? One that was listed on Nasdaq and was facing class-action suits in the US? How could a clannish company be transformed into a professional one? Was the deal worth it?. Read more at: https://www.business-standard.com/article/beyond-business/the-truth-shall-prevail-112112800064_1.html