Monday, January 12, 2009

Satyam, early resolution, the only way to salvage ..

The Satyam scam is no doubt the worst one corporate India has ever seen to date. These are the birth pangs of a growing economy. Any growing country will have such events. The strength of the country lies in getting up from the damage and going ahead. We thus need to look at ways to manage the damage control actions well, resolve the ill effects of the scam and go ahead.

Satyam is not the only face of India. There are many other well run IT companies in the country, ethical ones like TCS and professional ones like Infosys. The coming days may see the decline or fall from grace of another Indian conglomerate doing great business, but whose ethical standards are under a cloud, the Reliance group. It would do well for Reliance to come out in the open and declare its misdeeds and correct itself, before the employees and shareholders are put through stressed times.

In the present circumstances since the scam has happened and has hurt the pockets and reputation of many parties, the little the government can do is to see that the investigation into the case is completed as early as possible and model punishments are given to the accused, how powerful and well connected, they be.

Many an experienced professional is waiting for an amicable solution to the problem and the earlier it is done,  he will be satisfied and will continue to work with the company. An early resolution is necessary for restoring the confidence of the investor and the employees in the company and for salvaging the reputation of the company as a professionally managed and run company, without which it could not have reached such high heights. It should be decided in the next two or three days about handing over investigations to the CBI and resolving the case withing certain time frame, say three months.

Because of the evil designs of the promoters, why should the loyal employee suffer ? He has been putting his best for the company and he should be given suitable opportunities to work and show his true mettle. The more the case is delayed, the employees will get de-motivated and start deserting the company. The employees are, after all, the most important and precious resources in an IT company. 

The government and investigation agencies need to go ahead with the investigations, that need to be completed in as short time as possible. It will also redeem our reputation among the international community as a responsible and fast acting country, working to protect the interests of the investors, employees and shareholders. This will no doubt be a boost to the international community waiting to see the Indian government's response to revitalise the Indian economy.

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