With TechMahindra finally getting the controlling stake after a 3-month drama, all the market speculations about the future of this so called India's Enron were put to rest on Monday bringing much needed respite for the employees and customers.Ever since Satyam's founder Raju confessed of a financial fraud, there was a big question mark on the fate of its employees and clients. But when TechMahindra clinched the deal by beating its rivals such as engineering conglomerate L&T and a group led by Mr.Wilbur Ross to acquire this battered firm, it came as a breath of fresh air after 3-months of ordeal for all the stakeholders of Satyam. Due to the sincere efforts and timely action of the government appointed board which was formed to oversee the resurrection process of the fraud-hit company, the future of many employees is now in safe hands and this is a major step in boosting the Indian Corporate image.
But this is just the ground work and a lot needs to be done . With its huge liability and long list of lawsuits, Satyam can be a white elephant for TechMahindra if not handled carefully.
Tech Mahindra faces the daunting task of reshaping Satyam, a company at the heart of India’s biggest corporate scandal.
And the good part about this saga is that satyam gives you a company picture not like Lehman Brothers or Enron where you find only buried souls finding their way to salvation.
But it remains to be seen whether TechMahindra , with its huge experience , is able to transform the maligned business firm into a profit-making company or not. Given the potential pitfalls which the new management still have to navigate, this seems to be a daunting task but not the impossible one.
Finally i would like to quote Euriprides who once said:
" There is in the worst of fortune the best chances for a happy change ."
And this seems more apt to the satyam saga.
But this is just the ground work and a lot needs to be done . With its huge liability and long list of lawsuits, Satyam can be a white elephant for TechMahindra if not handled carefully.
Tech Mahindra faces the daunting task of reshaping Satyam, a company at the heart of India’s biggest corporate scandal.
And the good part about this saga is that satyam gives you a company picture not like Lehman Brothers or Enron where you find only buried souls finding their way to salvation.
But it remains to be seen whether TechMahindra , with its huge experience , is able to transform the maligned business firm into a profit-making company or not. Given the potential pitfalls which the new management still have to navigate, this seems to be a daunting task but not the impossible one.
Finally i would like to quote Euriprides who once said:
" There is in the worst of fortune the best chances for a happy change ."
And this seems more apt to the satyam saga.
It was nice to go thru the above article. But what's your opinion about the future prospects of Satyam.
ReplyDeleteThanks for such wonderful article
Neeraj,
Bangalore