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Educomp accused of fraud

Created by : Abhishek Goyal, Associate, Accel India Venture Fund  | 02 27 2009 16:54:22 +0000
Industry : Equity Research/Analytics
Keywords : fraud accused educomp
Activity:  754 views;  last activity : 07 06 2010 20:18:09 +0000

Recently read about accusses against educomp for siphonig out millions and cooking up the books. Do we need more standardization in filing of results so that the results are more transparent?

  
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For the public companies, there should be seprate section to highlight direct and in-direct transactions happening between other companies held by promoters and key management team. India need SOX like system to protect the interest of minority holders. Although such a system increases the burden on a company to go public, but it can act as a key deterent in such activities.
By Abhishek Goyal, Associate, Accel India Venture Fund  02 27 2009 16:54:22 +0000
 
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Abhishek i agree with you that there should be a proper system under which they will be accountable. if we want companies to be transparent in the way they work and also protect the rights of the shareholders then government should introducec strict rules and regulations and also monitor their activities to avoid any kind of fraud in the future.what do you say?
By Dayanand Deshpande, Senior Consultant, Ernst & Young  | 04 03 2009 06:16:01 +0000
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