Indian Economy



ஒரு வழியாக தி.மு.க.வை சேர்ந்த ராஜாவை மந்திரி பதவியிலிருந்து தூக்கிவிட்டார்கள். இவ்வளவு வெளிச்சம் போட்டுக் காட்டிய பிறகும் ராஜாவை மந்திரி சபையிலிருந்து விலக்க – கவனியுங்கள் விலக்க, அவர் மீது கேஸ் கீஸ் போட இல்லை, just விலக்க – இத்தனை நாளானது கூட்டணி அரசியலின் மிக மோசமான விளைவுகளில் ஒன்று. இத்தனை பணம் நஷ்டமாயிருக்கிறது – நாட்டின் ஒவ்வொரு குடிமகனுக்கும் சராசரியாக ஆயிரத்து நானூறு ரூபாய் போச்சு – அந்த ராஜாவுக்கு தண்டனை மந்திரி பதவி போனது மட்டுமே. மொத்த நஷ்டம் 1.76 லட்சம் கோடி ரூபாய். அதாவது 17,60,00,00,00,000 ரூபாய். கிட்டத்தட்ட நாற்பது நாலு பில்லியன் டாலர்கள். (திருத்திய வீராவுக்கு நன்றி!) கலாநிதி மாறனின் நெட் வொர்த் மூன்று பில்லியன் டாலர்கள் என்கிறார்கள். இந்த வருஷ பட்ஜெட் deficit-இல் பாதி போல ஐந்து மடங்கு.

இந்த விஷயத்தைப் பற்றி தமிழ் ஹிந்து தளத்தில் விஸ்வாமித்ரா மிகச் சிறப்பான ஒரு பதிவை – இந்தியாவின் பிரதமர் மன்மோகன் அல்ல நீரா ராடியா – எழுதி இருக்கிறார். மூன்று பகுதிகளாக வந்திருக்கிறது – பகுதி 1, பகுதி 2, பகுதி 3.

இதை விட சிறந்த, அடர்ந்த ஒரு கட்டுரை இது வரை தமிழில் எந்தப் பத்திரிகையிலும் வரவில்லை. முழுமையான ரிப்போர்ட், எல்லா விஷயங்களையும் கவர் செய்கிறது. இந்த அளவுக்கு விலாவாரியான தமிழ் கட்டுரை எனக்குத் தெரிந்து இது ஒன்றுதான். கட்டாயமாகப் படித்துப் பாருங்கள்!

விஸ்வாமித்ராவின் அலசலே போதவில்லை இன்னும் விவரம் வேண்டும் என்பவர்கள் CAG ரிபோர்ட்டை படிக்கலாம்.

என்னைப் போல சோம்பேறிகளுக்காக ராஜாவின் திருவிளையாடல்கள் சுருக்கமாக:

  • 122 கம்பெனிகளுக்கு லைசன்ஸ் கொடுக்கப்பட்டது. இதில் 85 கம்பெனிகள் பொய்யான விவரங்களைக் கொடுத்திருக்கின்றன. ராஜாவின் டிபார்ட்மென்ட் கண்டுகொள்ளவில்லை.
  • அனுபவம் இல்லாத புதிய கம்பெனிகளுக்கு மலிவான விலையில் லைசன்ஸ் கொடுக்கப்பட்டது. (இதற்காகத்தான் First come First Served பாலிசி என்று திருப்பி திருப்பி சொல்கிறார் இந்த ராஜா) இதற்காகத்தான் மனு செய்வதற்கான கடைசி தேதி வேண்டுமென்றே ஒரு வாரம் முன்னால் நகர்த்தப்பட்டது. First-come-first-serve என்று ராஜா சொல்கிறாரே தவிர அதை விதிப்படியும் கடைப்பிடிக்கவில்லை, நியாயப்படியும் கடைப்பிடிக்கவில்லை.
  • சொன்னதற்கு மேலான அளவு ஸ்பெக்ட்ரம் 9 கம்பெனிகளுக்கு கொடுக்கப்பட்டிருக்கிறது (பாரதி டெலிகாம், ரிலையன்ஸ், ஏர்செல், வோடஃபோன்…)
  • அனில் அம்பானியின் கம்பெனிக்கு நிறைய சலுகை
  •       அம்பானி கம்பெனிக்கு மலிவு விலையில் லைசன்ஸ்
  •       லைசன்ஸ் கேட்டு மனு செய்த ஸ்வான் டெலிகாம் என்ற கம்பெனியில் அம்பானி கம்பெனி 10%-க்கு மேல் ஷேர்களை வைத்திருந்தது. இது அரசு விதிகளை மீறிய செயல்.
  •       இப்போது ரிலையன்ஸ் லைசன்ஸ் கொடுக்கப்பட்டபோது 10%-க்கு உட்பட்டுத்தான் ஷேர் இருந்தது என்று சொல்கிறது. மனு செய்தபோது விதி மீறல் என்பதை சாமர்த்தியமாக மறைக்கப் பார்க்கிறது
  •       ஸ்வான் டெலிகாம் கொடுத்த ஈமெயில் ஐடி ரிலையன்ஸ் கம்பெனி அதிகாரியின் ஈமெயில் ஐடி.
  • தொகுக்கப்பட்ட பக்கம்: நாட்டு நடப்பு

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    I saw this email in my alumni group – I don’t know whether this email has “satyam” or “asatyam”. It is unsigned, anyway. It is purported to be written by a Satyam employee. I thought it is interesting…

    ——– Email starts ———–
    At a time when almost 90% of my Satyam friends are cribbing about the fraud and betrayal by Ramalinga Raju, I have a slightly different opinion. It’s bold of me to write this in black and white but this comes straight from my heart and experience.

    Let me start by quoting an example of 2006. Most of my friends were unemployed with 50-60% plus marks in BTech, with a degree from an average University and hunting madly for a job. Whether people accept it today or not but the truth remains that Satyam was the ONLY saviour and the only mass recruiter who was ready to accept students who had back logs but had cleared them and also it did not put a very strict minimum marks criterion. And this was true not only for my small college at Lucknow but also those across India . Satyam is the fourth largest in IT in India . Looking at India ‘s population I really want to thank Raju for giving some 54000 Indians jobs atleast for all these years . He was the reason for the revival of confidence and the reason for the bread and butter for many a families.

    Satyam training was renowned all over India . Their STC training centre created numerous love stories and unexpected rekindling of a youthful environment where girls and boys were more indepenent than their college days . I remember most of my Satyam friends felt that they made better friends at Satyam’s three to six months training than those in the four years of BTech.

    Unfortunately people forget to thank God in sad times . I understand that what Raju did is deplorable and unpardonable. He should have treated business more formally and not dealt with it like a family affair . He should have been strict a couple of months or years before itself. Why did he hire so many non potential candidates and keep them on bench? When were the managers and the team mates last told that if they dont work hard, they will lose their job? Business cannot be run lousily.

    I have been staying with some 200 odd girls for the last 2 years and many of them are from Satyam. Moreover I network a lot and I have lots of male friends at Satyam . I have seen how people tail gate to Satyam, how they give their swipe cards to others to swipe it on their behalf , how female employees have gone home sharp at 6am irrespective of when they landed at office, how employees sit at home for months at a stretch, prepare for all kind of post graduate entrance exams and still enjoy a full month’s pay, how often they went for movies at local theatres at office hours, how often employees went to office just to sign on registers in the morning and at evening, how often they faked their certificates , how often they put unlimited fake medical and house rental bills.

    How can we blame just one man when EACH AND EVERY person was disloyal ? How can we exclude Auditors like PwC ? How can we exclude the Board of Directors who have washed their hands off so clean? How can we exclude banks who gave hefty loans without true verfication? How can we exclude the Chief Minister of AP who allowed leniency for Raju’s fellow businessman? How can we exclude managers who were never able to trace which bench employee under him had been away from office for how long ?

    Yet how can people forget this is the same man whose ideas and potentials gave them an identity for the past several years? How many couples found the right match at an IT industry , courtesy Satyam and how many Andhra farmers benefited from their crores of investments in Satyam shares .How can people forget that Satyam launched its offices right at the doorsteps of a residential colony, where people can simply walk to work ?

    The most gruesome experience that I can recollect was when a Satyam tag wearing person was waiting to attend an interview and I overheard him saying that he was in a business meeting at the My Home Satyam ( Madhapur) office when he was sitting right infront of me at a totally different company. When employees themselves show such a lousy attitude and dont care a damn for the brand that they carry around their neck, how can they expect others to care?

    I am not saying that ALL Satyam employees are bad. I have known very dedicated people too, but my point is very clear, before pointing fingers at others, introspect .There are thousands of people who have completed certifications at the cost of Satyam, got trained at Satyam. Satyam made several freshers stand on their feet to get better jobs elsewhere across the globe and attain onsite exposure through Satyam.

    What Raju did was to keep the business of Satyam going at any cost. I see a very smart man in him when he understood that he should rather accept his mistake than be caught by the USA laws . I see a selfish father in him too that he put a lot at stake for Maytas. However, he resigned with a lot of dignity and his letter of resignation shows humility. It takes a mammoth amount of courage to accept your mistake in public at a time when the media is ready to blow everything out of proportion. If humans dont make mistakes who else would ?

    My last salute to this man is for creating such mass employment in India for 57k employees and 57k families when even opening a beetle(pan) shop in a lane in India is a challenge !! Thanks to him for creating income for all the thousands of families who benefited through food chains, the tiffin wallahs, the transport people and all those who made money by renting their houses.

    I read he donated Rs 12000 crores from his personal pocket to give the January salary of his Satyam employees. Today Satyamites call Raju a FRAUD. The true and loyal Satyamites surely have all the reasons to say this word. But all the rest who sucked every rupee out of Satyam without doing any value addition need to understand – who was a bigger fraud.


    Now we know that the Enron, Bernie Madoff kind of tremors can shake even India. Only, this time a different epicenter – Satyam, Hyderabad.

    People refuse to learn lessons. We are not sure why. The story of the auditing firm Arthur Andersen’s complicity with Enron would have and should have taught a lesson for erring auditing firms. Arthur Andersen (the firm) turning its face away from the Enron executives’ diabolic scheme and signing off the balance sheets for the energy giant year after year is rather incredible. It’s incredible in the sense that its willingness to let go the reputation it built over decades, drop its workforce from 85000 approximately to mere 200 and diminish itself into an inconspicuous law firm in Chicago.

    What for? Arthur Andersen (the person) earned a great name for his honesty and for his firm and the firm itself was a whistle blower in the past when clients were erring. To its credit, it had advised FTSB about considering stock options as expenses rather than compensation. All these accomplishments were erased by a single stroke of pen literally. Was Enron too powerful for it to handle or Enron’s money too big for it to lose? Or was there just “greed race”? AA was happy to take the same stride with Worldcom with the “experience” it gained from the dwarfed Enron scandal. But still are all of these even worth to the level of losing its CPA license?

    From the point the venerable term Big 5 has been reduced to Big 4 – with the remaining Deloitte & Touche, Ernst and Young, PricewaterhouseCoopers and KPMG possibly sharing the clients of AA – to now, there was enough time for large and small accounting firms to get their acts fair and square. But what we sense currently is still a lost opportunity for many firms or at least for PricewaterhouseCoopers (PWC).

    PWC has dug its own grave or in the process of doing so. The trio Ramalinga Raju, Chairman, Srinivas Vadlamani CFO of Satyam Computers and the PWC were counting on “horoscopes” to build the “gap” rather than corporate financial acumen? (Adolf Hitler and his propaganda secretary Dr. Joseph Goebbels were counting on “relief through horoscope” when Stalin’s Russians were approaching Reichstag in the center of Berlin – Horoscope might have pointed them to commit suicide). Isn’t Satyam honesty in Sanskrit? Exactly. That’s why Ramalinga Raju was “honest” in admitting his inability to bridge the gap between $1.1 billion and $100 million. What remains to be seen is his claim that he didn’t take even a rupee for his own use is honest or not. That is very unlikely to be an honest one with the way he practiced business.

    PWC claims for its part that it followed highest accounting and auditing standards while auditing Satyam. Simple matters like checking the bank balance about Satyam’s cash in hand entry of the assets side of the balance sheet, random summoning of related document from employees other than those at executive level, etc would have told a lot of stories about what’s cooking. If PWC hasn’t performed these trivial tasks, its more than a century of professional experience is trash. If PWC has done its homework and done it meticulously then probably it knows what’s going on inside Satyam but decided to turn the other side like AA did for Enron and WorldCom.

    What’s worrying us is this: Is PWC turning the other side in favor of rest of its clients’ “dark accounts” or just for Satyam because it happened to emerge big like Enron, at least in its cooked books?

    Perhaps PWC would have thought “Big 4” is too big a number for the world to deal with and the right one is “Big 3”. So it is collaborating with clients like Satyam  to  accomplish that goal through their  falsified accounts. Well. Will it stop here? Or are there further reductions in the “Big” counts? Deloitte, E&Y and KPMG should wake up if they are not already.