The 7200 crore accounting fraud in Satyam is a tip of the iceberg. Though the initial suspicion points out to Rajus, the actual devils might be hiding inside.
One story goes that Rajus used to bribe the realtors and politicians with Land when they used to get new contracts (for Maytas). As the real-estate crashed in Hyderabad, the realtors wanted cash instead of land. This led to a cash crunch which led to the demise of Satyam.
It is high time that the probe delves into the activities of state politicians, real-estate bigshots and unearth the real story behind the fraud.
No comments:
Post a Comment