The Satyam board has been disbanded, A new 3 member directors have been appointed . The fresh team has met with an agenda to track down the misappropriatio. If the receivables ,as stated by the fraud management is true, then there is adequate liquidity, according to Mr. Deepak Parekh.
Yes, one man will gulp all the available food, with the help of his confident coteries. He gets choked and spits out the unneeded. He falls sick, is hospitalised ,is given proper medication and walks out with stately poise. This is what I perceive as the aftermath of the Satyam eruption.
Ramaling Raju has devoured 7000 crores , has disclosed the fudging ,has surrenderd to judicial custody , and has gone behind the bars. A beautiful myth and a strange reality get mixed up.
The Government has released the step up process and as the rescue is definite, the shares are moving up fast. Why do we act like in such a quixotic manner?
Protecting the shareholders , caring the employees, and holding the image up is thoughtful and appreciable. But how is the government going to do?
Setting right the financial, is an onerous job. The government appointed Board will get the least cooperation from the finance department of Satyam. Will stern orders bear fruit?
Restoring the good will , is still more a grave task. The credentials pose a big question. The World bank has cancelled its contracts. The faith in the company is lost. No one will dare revert to Satyam to process their business.
Making it move in the right track is the most terrible detonation . How well can they do?Mobilising liquidity, putting the bank balance straight,protecting the staff , prolonging the terms of result tabulation , will take its toll . Deepak Parekh, in the helm of affairs, has to spend many a sleepless night and many a nerve breaking hour to tally the workings.