SATYAM FIASCO !!

Satyam the IT company gone bust due to accounting mismanagement is not surprising due to its known features in indian accounting standards.

Everybody knows that Chartered Accountants fudge the books and will clearly "co-operate" with the clients to make the books look as the clients want.

There is nothing called immposible in the CA ,s vocabulary .

If Mr. Raju the MD didnt come out with his remorefull statement than all the mismanagement would be pushed under the carpet as is the norm.

We can commend Raju for taking this bold step since now all the IT companies will be burning their midnight oil to sit with their CA,s and set right thier books.

One can only hope that due the dili dalies of the top brass of the Satyam the employees do not lose their careers and hopes .

Sadly it seems that precisly what is going to happen because now the bloody ravenous politicians will enter the ring and demand their bound of flesh .

In this regretfull story ANDHRA PRADESH as a IT hub will be get a beating and maybe Karnatak , Tamil nadu the other major IT states will learn the lesson .