Asatyam

Satyam Fraud Raises Tough Questions About Owning Stock

The Satyam scandal represents the unholy nexus between politicians, business leaders and academia. Satyam never made it to the top three IT companies from India precisely because it has long been known to engage in unethical business practices. The final desperate act of buying Maytas, an infrastructure company that has no relevance to Stayam's core business, is nothing but an attempt to clean out what little cash existed in the company.

It is a shameful act of dishonest behavior on the part of Raju and his crony Board. As a person of Indian origin, I am ashamed of people like Raju and more importantly the Harvard-elite such as Krishna Palepu. As a fellow Hyderabadi, the pain is even more acute.

I think people like Raju and Palepu are making a serious dent to the Brand image of India and Harvard! I wonder whether Harvard's ethics committee is going to look at what Professors like Palepu are doing on the side!