Ethics

Ethics

2/20/2010

Satyam shows B-schools too need a co…

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Satyam shows B-schools too need a code of ethics
Most of the people primarily involved in the Satyam scam have a connection with reputed business schools
Business Case | Premchand Palety

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The Satyam Computer Services Ltd scandal has show n w hat bad corporate governance can lead to. It w ill take some time before the story of the fraud unfolds fully but as of now, it seems to be much more serious than just the w indow dressing of the balance sheet. Probably Satyam created its contradiction in the true sense w ith Maytas Properties Ltd and Blogs Videos Radio Special Report Mint Reports Webcast Archive Partners Wall Street Journal Tools Mint Mobile RSS Feeds RSS Story mint e-paper Email Alerts Festival Contest Daily Newsletter Follow us on Twitter Follow us on Facebook
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Maytas Infra Ltd, and money w as siphoned off from the computer software services firm to buy real estate and bribe politicians that eventually led to its fall. In the process, shareholders’ w ealth and confidence have been devastated. The management has put the careers of its staff in jeopardy and the image of Indian companies has suffered greatly. Some years in jail for the key perpetrators of the fraud look inevitable. Most of the people primarily involved in the Satyam scam have a connection with reputed business schools. Also Read Premchand Palety’s earlier columns B. Ramalinga Raju has a master’s in business administration from Ohio University and has also had a stint at the Harvard Business School (HBS), where he attended the ow ner/president course. But it...

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