the asatyam about satyam and its billion $ fraud

the word satyam in sanskrit means truth.
but what satyam has shown the world is the asatyam or the lies it has held to itself all these years , cheating millions of poor as well as the rich investors.
the FIIs and OCBs who are always sceptical about corporate governance i indian companies ,have once again proved that their doubts are not totally unfounded.
satyam's ex-chairman mr. raju confessed fraud in accountingin company's books forseveral years and resigned last wens day.
Now this has thrown many questions about companies' auditors credibility and their role as well as role of board of directors of companies and also the role and effectiveness of independent directors.
sebi, stock exchanges and company law board are also unable to come out with any effective inspection and fact finding mechanism on a continuing basis in all such cases. such cases also occured earlier where investors were cheated like global trust bak,dsq software etc...
unfortunately no watch dog in the country like regulatory or otherwise has so far come up with a fool proof system to check such frauds or irregularities to nip in the bud itself,or atleast to alert investors or regulators on a continuous basis in all such cases.
many stock scams likethe ones perpaetrated by harshad mehta or ketan parekh also could not be detected or alerted about in initial stages.
only after extensive damage is done to investors money and confidence ,some regulatory measures are taken up .but all such steps are found useless till we find another scambreaking in stock markets.
so where is the mistake or fault lies?
yes it lies in human greed and unethical ambitions of human beings , about which or upon which no body has control.
sebi and the govts as usual after satyam scam came out with a few measures.
Only time will tell the effectiveness or otherwise of such steps to check future frauds.
lesson for investos for now is to invest only in companies with transparancy and governance values like infosys etc...
safe investing is the best investment.
rallabadi venkatarao

new year wishes to all

with the advent of new year, new hopes and aspirations take shape in humanity over the entire globe.
people work with new vigor,new ideas and new year resolutions.
let us resolve that man kind live in peace,harmony and love.To this end all of us shall strive to do our bit .
nations and citizens,whether in gaza,india,pakistan,israel or any where in the world shall take stand to eradicate terror,poverty and help each other to live a happier life.
with warm wishes for a happier new year 2009 to all of us.
rallabandi venkata rao