Monday, January 19, 2009

Indian IT's moment of truth

News about the Satyam fiasco is all over the place. Ramalinga Raju has given the media the much needed scoop after 26/11. Almost every news item and debate is around Satyam. At the same time Ramalinga Raju is cooling his heels in a jail, supposedly after refusing VIP treatment but using his political clout to keep away from the law.

While the Satyam fiasco has come as a rude schock and raised questions on corporate governance in India and the credibility of Indian IT companies, I think it is good one way. It has given a chance to revisit the laws and put in measures to enforce regulation and compliance. After all while it is great to remind oneself of all the feathers in his cap and keep flying high, one also does need some thorns once in a while to prick and bring back to reality.

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