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Topic : Safeguarding IP in IT Offshoring
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Do we think Raju's Fraud have bad effect on IT in india

Created by : Darpan Sinha, Tech Architect, Royal Bank of Scotland  | 01 14 2009 07:23:29 +0000
Keywords : india it fraud satyam
Activity:  491 views;  last activity : 01 16 2011 09:10:54 +0000
What do we feel will the IT growth in india be effected from the Satyam's Fraud
  
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Yes I Today saw Infosys coming up with details of the cash deposits to show up that they have the real money and not fake .. it shows a sign that the Clients may be loosing faith in the indian companies as there turnover and profits are concerned.. And it will effect the IT market if Satyam falls or decides big layoffs coz we dont c many jobs arround in the current market trend and if 50K more guys will be added to the market it will do no good to Indian IT
By Darpan Sinha, Tech Architect, Royal Bank of Scotland  01 14 2009 07:23:29 +0000
 
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I say no. Whatever has happend in the recent past in satyam computers will not change the image of India. Window dressing happens everywhere in India. Its not uncommon thing though we see the implications of the act from the perspective of largeness of the company, the statements, the awards, the clients, the employees and the India's image as such. Window dressing should not happen, however, unfortunately it happens in many cases. Many fraud cases could not even be followed up with the hectic procedures, stake holders and many other things and its true and its not a vague statement. Corporate frauds happen not only in India, but, in many other countries. We can easily find out the issues as to why the companies were able to so easily resort to fraud and cover up the entire thing in its financial statements. The reason is very simple. No auditor will be able to look into all the documents and papers and there may not be any true auditing or auditing as required. Further, the shareholders may not be able to probe into the financial results published by the company. It all happens and its not uncommon though its illegal. It will not change the Indian IT sector image at all.


By V.Durga Rao, Private Attorney/Lawyer, V.DURGA RAO  01 17 2009 15:33:10 +0000
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When fear of law is not effective to authority then every where scam takes place and authority breaks the rules and regulation.This is shows how our laws are effective for criminals.India must be divided in state level for individual democracy and laws.Release all the mps. and cabinets member and see the result.Small family is happy family.
By LAXMAN KESHWALA, Freelancer, Telecom/ISP  | 01 16 2011 09:10:54 +0000
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auditors have been given special powers to look into the true & fair view of the financial statements of a company.but today the auditors have forgotton their roles & have become mere pet in the hands of the auditees. This was bound to happen in a country where everyday we find a new money laundering scam in the newspaper. But it will heart the Indian IT prestige at a time when the U.S. is starting to feel the presure to close the outsourcing serivices. Now it has to be seen how the world reacts on this issue.
By sanjay dey, Tax & accounting , Consultatnt  | 11 05 2009 11:51:01 +0000
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Hi Durgarao

I dont agree with the statement "that no auditor can look into all the documents" coz if that is true then why the policy says that the results need to be audited by CA/CS etc. And ceartianly it was not expected form a company like PWC
By Darpan Sinha, Tech Architect, Royal Bank of Scotland  | 01 19 2009 12:41:21 +0000
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depends on how you take it...
By UDAY PRATAP SINGH, Asst. Director/Director, UDMITA FILMS  | 01 19 2009 04:44:15 +0000
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Yes Definetly it effects,

It is a slap on the belief u know.
By Bellala Gopinatha Rao, Senior Project Manager, Promax Management Consultants  | 01 19 2009 02:02:49 +0000
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this is a bad precedent in reposing faith. investors and shareholders are duped in this long time fraud intelligently without involving the auditors and regulators
By Dr Tamma Gangadhara rao, Relationship Executive, SBI  | 01 14 2009 23:14:09 +0000
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Ya but show  must go on so forget everything and go ahead with new zeal .............

Thats Life................


By manju dagar, News Anchor/TV Presenter, Time Today  | 01 14 2009 12:37:09 +0000
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Ya but show  must go on so forget everything and go ahead with new zeal .............

Thats Life................


By manju dagar, News Anchor/TV Presenter, Time Today  | 01 14 2009 12:37:03 +0000
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ofcourse
By UDAY PRATAP SINGH, Asst. Director/Director, UDMITA FILMS  | 01 14 2009 12:03:21 +0000
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Yes, It will effect a lot. The maximum loss will be to the freshers as 53k people will be unemloyed now and clients may loose interest in India's big companies.
By Deepali Gulati, COO, Knack HR Solutions  | 01 14 2009 09:49:18 +0000
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I agree to Pratap, it completely depends on how we take. we cannot judge the entire IT industry on the basis of one company or rather say one person. Even after the fraud at Satyam, it still holds a good image and is successful in retaining most of its clients, just because of the quality of work. So it should definitely not affect the IT industry as a whole.
By Ayan Choudhury, Sr/Principal Corespondent, Leading media House  | 04 08 2009 07:30:26 +0000
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I don't really think so it would have a long term impact.... but yes clients would be more cautious while evaluating a particular vendor to give projects.

and this declartion by infy about its cash reserves is one such proactive step to soothen down the nerves and instill confidence of clients and investors in India and aborad [i like this].

and BTW, if theres propblem at one place doesn't mean that all the places are bad.
By Vinay Mudgil, Sr. Application Developer, Computer Sciences Corporation  | 03 11 2009 11:44:32 +0000
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No, it won't...Other IT companies in INDIA will get the project's from the Satyam's clients. Now only the deserving one will receive it after through out research...
By Rohit Khanna, Project Leader/Managing Consultant, Accenture  | 03 05 2009 07:19:51 +0000
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it may have negative impact for a shortwhile but the satyam episode has opened up the eyes of monitoring bodies to be more vigilant and such problems will not occur in future. All problems are opportunities to improve upon.
By Vinayarajan KV, Head/VP/GM-Sales, EP Tech  | 01 15 2009 06:43:57 +0000
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