Finally the court has delivered the
justice in the Satyam scam. It is heartening to know that the culprit -
Ramalinga Raju including nine others – has been held guilty. This happened this morning at a special CBI
court. Satyam founder and chairman B Ramalinga Raju among nine had embezzled
funds risking career of thousands of its employees in the multi-crore
accounting fraud.
But it is a pity that our judicial
system takes a lot of time and has barely set examples of abrupt justice giving
a stern message to other honchos. Make no mistake Raju still has to knock the
High Court and, if lost again, the Supreme Court. The point is if the verdict
will be able to set some examples. However, the repercussions of the justice
will script a new chapter in the corporate history of India. The justice will
be a warning to the corporate honchos.
The court found Raju guilty of cheating, forgery and criminal breach of trust.
The punishment will be pronounced tomorrow. The justice should also include the
wrongdoers including the law and accounting firm which was involved in the
accounting of the organization. It was law firm’s responsibility to fairly
account the company’s finances. Thousands of employees were on the verge of
losing their jobs. The scam is one of its kind in India which shook the IT
industry.
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