One year after the founder of Satyam Computer Services confessed to the largest fraud in Indian corporate history, many say that what really sets R. Ramalinga Raju apart is not his malfeasance, but the fact he got caught. Hong Kong's Asian Corporate Governance Association released on Tuesday a 55-page white paper on Indian corporate governance, which suggests that many of the conditions that helped facilitate Raju's $2.5 billion fraud still exist, despite efforts to reform.
January 20, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
One year after the founder of Satyam Computer Services confessed to the largest fraud in Indian corporate history, many say that what really sets R. Ramalinga Raju apart is not his malfeasance, but the fact he got caught.
“To think there aren’t other companies that dabble in less than forthright practices, to believe that other companies are not doing this kind of thing is naive,” said Sharmila Gopinath, research manager at Hong Kong’s Asian Corporate Governance Association.
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