YES its the need of the hour but Corporate Governance will cease to be effective unless clear border lines are drawn between Politics / Business / Bureaucracy.

Next throw favoritism out the window and grant projects based on performance and track record and not because some one knows a Naidu, Amar Singh or a YSR or some other Political Clown very well and is the Man Friday of Industry's well being in India.

That centuries old thriving culture in India needs to be exposed for what it is and reward and encourage transparency.

Then True Corporate Governance will automatically be welcomed and will bring the Genuine Face of India to the forefront!

THAT WILL BE LAUDABLE!

In india to become famous what one should do work hard and reach a position in a corporate company like satyam and make use of it for personal gains. and confess it to the public leave the company spend a few weeks in jail comeout with a bail by giving money to top advocates in the world and even the top leaders in the country. Become famous and if nothing works Join SP with amar singh or join Narendra Modi. or check out how a Pakistani became so famous and getting good food and good security for his life time so simple and really very intresting and he will be tried in the courts but nothing will happen in India for next 50 years to come and by the time he will be 80 years and then his whole life span is over with good food and good care and super z protection. i really love india. My country is really shining.. and i really would say i am proud of being an Indian hoping all my other citizens will say the same. God bless India.

Why call Raju a thug?do u believe Raju alone could have messed up like this??The whole machinery was partying with him - what was the state govt / IT / SEBI doing - sleeping? (with him)
We've seen in the media that Raju has benami accounts - it means banks were complacent / cooperative in not deliberately registering all details - unfortunately when a common salaried person wants to open an account - he has to submit all kinds of documents like PAN/Address/Tel/ID/Birth cert/....
If some one honestly gets to investigate , all the bank mgrs/dirs , govt officers would have properties whose value will sum upto 7000cr

Its written by a Satyam employee:

At a time when almost 90% of my Satyam friends are cribbing about the fraud and betrayal by Ramalinga Raju, I have a slightly different opinion. It's bold of me to write this in black and white but this comes straight from my heart and experience.

Let me start by quoting an example of 2006. Most of my friends were unemployed with 50-60% plus marks in BTech, with a degree from an average University and hunting madly for a job. Whether people accept it today or not but the truth remains that Satyam was the ONLY saviour and the only mass recruiter who was ready to accept students who had back logs but had cleared them and also it did not put a very strict minimum marks criterion. And this was true not only for my small college at Lucknow but also those across India . Satyam is the fourth largest in IT in India. Looking at India's population I really want to thank Raju for giving some 54000 Indians jobs atleast for all these years . He was the reason for the revival of confidence and the reason for the bread and butter for many a families.

Satyam training was renowned all over India. Their STC training centre created numerous love stories and unexpected rekindling of a youthful environment where girls and boys were more indepenent than their college days . I remember most of my Satyam friends felt that they made better friends at Satyam's three to six months training than those in the four years of BTech.

Unfortunately people forget to thank God in sad times . I understand that what Raju did is deplorable and unpardonable. He should have treated business more formally and not dealt with it like a family affair . He should have been strict a couple of months or years before itself. Why did he hire so many non potential candidates and keep them on bench? When were the managers and the team mates last told that if they dont work hard, they will lose their job? Business cannot be run lousily.

I have been staying with some 200 odd girls for the last 2 years and many of them are from Satyam. Moreover I network a lot and I have lots of male friends at Satyam . I have seen how people tail gate to Satyam, how they give their swipe cards to others to swipe it on their behalf , how female employees have gone home sharp at 6am irrespective of when they landed at office, how employees sit at home for months at a stretch, prepare for all kind of post graduate entrance exams and still enjoy a full month's pay, how often they went for movies at local theatres at office hours, how often employees went to office just to sign on registers in the morning and at evening, how often they faked their certificates , how often they put unlimited fake medical and house rental bills.

How can we blame just one man when EACH AND EVERY person was disloyal ? How can we exclude Auditors like PwC ? How can we exclude the Board of Directors who have washed their hands off so clean? How can we exclude banks who gave hefty loans without true verfication? How can we exclude the Chief Minister of AP who allowed leniency for Raju's fellow businessman? How can we exclude managers who were never able to trace which bench employee under him had been away from office for how long ?

Yet how can people forget this is the same man whose ideas and potentials gave them an identity for the past several years? How many couples found the right match at an IT industry , courtesy Satyam and how many Andhra farmers benefited from their crores of investments in Satyam shares .How can people forget that Satyam launched its offices right at the doorsteps of a residential colony, where people can simply walk to work ?

The most gruesome experience that I can recollect was when a Satyam tag wearing person was waiting to attend an interview and I overheard him saying that he was in a business meeting at the My Home Satyam ( Madhapur) office when he was sitting right infront of me at a totally different company. When employees themselves show such a lousy attitude and dont care a damn for the brand that they carry around their neck, how can they expect others to care?

I am not saying that ALL Satyam employees are bad. I have known very dedicated people too, but my point is very clear, before pointing fingers at others, introspect .There are thousands of people who have completed certifications at the cost of Satyam, got trained at Satyam. Satyam made several freshers stand on their feet to get better jobs elsewhere across the globe and attain onsite exposure through Satyam.

What Raju did was to keep the business of Satyam going at any cost. I see a very smart man in him when he understood that he should rather accept his mistake than be caught by the USA laws . I see a selfish father in him too that he put a lot at stake for Maytas. However, he resigned with a lot of dignity and his letter of resignation shows humility. It takes a mammoth amount of courage to accept your mistake in public at a time when the media is ready to blow everything out of proportion. If humans dont make mistakes who else would ?

My last salute to this man is for creating such mass employment in India for 57k employees and 57k families when even opening a beetle(pan) shop in a lane in India is a challenge !! Thanks to him for creating income for all the thousands of families who benefited through food chains, the tiffin wallahs, the transport people and all those who made money by renting their houses.

I read he donated Rs 12000 crores from his personal pocket to give the January salary of his Satyam employees. Today Satyamites call Raju a FRAUD. The true and loyal Satyamites surely have all the reasons to say this word. But all the rest who sucked every rupee out of Satyam without doing any value addition need to understand - who was a bigger fraud.

Indeed it is true that their are many criminals in the corporate world, and it is not only Mera naam Raju, Raju the con man alone.
But do we stop here or investigate every listed company failed or still running, let me tell you their are many businessman who runs money with public money and the losses is passed to the public but profits becomes theirs, like a company called Yenopaya marbles and granites in Dakshina Kannada, Mangalore who floated and all investors lost money but he and his family are having the best of life with other companies he owns, and runs institutions etc, he is well connected and has tremendous influence every where and in every political parties
We have many like him, if the laws are such in our beloved country a honest and committed person can do very little.
Let us change the lifes of others for the better of every body and ensure it is a safer place to live, forget the community , language and caste divide and bring other issues like corruption in politics, burecrats and corporate world and punish this people than punishing ordinary human beings.
This people are much dangerous than terrorist, or naxals or any armed forces, as they are systemtically gaining control on every aspect with their wealth.
So let us ensure that justice prevails and business is conducted in fair and level ground, opportunity is available for everybody and balancing acts is done properly where any indiviual or a company if found guilty is punished severly with not only penalty but with supsension of all activities and any expansions or any other future business for certain period, all concessions to be removed and the person be black listed and advertised in all section of media and posters and shamed to the maximum in very crude and rude manner,
Be it a politician, or burecrats or business man they need to be dealt harshly and severly only than we will be living in better country called INDIA, vande mataram

For corporate governance in India, this word is not suitable for India. Most of our companies are doing all sort of frauds like adjustment in books to boost the figures to increase their Share price in Market. Those people who are all caught today are big corporate governed people but now they are nothing. This is the state in India. All are fraud people, they know how to adjust the books with the help of auditors.

The Corporate governance is a word which has misled the billion.What happened to Good corporate Governance by Ramalinga Raju? As long as the skeletons don't surface, everything is a good corporate governance.

When there is big hue and cry and all lights are flashing at Rajus, how many politicians were shown like this in any TV , any time?

Lalu personally gained several hundred crores from animal feed.

Nearly $2bn lost in Spectrum auction.

A party seems to have spent nearly 80 crores for a by election in Tamil Nadu and won, recently.

There are mines scam in Karnataka, resulting in few hundred crores loss to MMTC.

How many thousands of crores of black money generated by the government employees every day?

How many crores spent to win vote of confidence? Manmohan singh has no business to talk about corporate governance in India.

All the above are more than Ramalinga Raju many a times.

Honestly, 99.90% of our government people have no moral right to talk about honesty.

it is both surprising and frightening that in this age of transparency and good governance, a company could commit this fraud over the last 7 years. hope other companies are not waiting to declare skeletons in their ledgers

the regulators MUST work and be sacked if they dont

With the failure of corporate governance in India, the overall IT industry may be at target by the upcoming IT nations such as China. So, the failure of Satyam means the failure of Indian IT Industry to an extent.

There are much bigger THUGS in POLITICS.

Even in the Satyam case; they couldn't have done so much fraud without the active connivance of local politicians - the land grab was the real thing here.

E.Sreedharan of Delhi Metro had exited the Maytas Metro project citing exactly this - that this is not Metro work; but it is a underhand Land Deal.

As long as Cheap Thug Politicians are around - nothing will improve.