Posted by: Steve Hamm on January 09 After a day and a half of confusion, the Indian government has asserted itself in the Satyam fraud scandal. I just got off the phone with Suresh Senapaty, the CFO of Wipro, who says Indian TV is reporting that former Satyam Chairman Ramalinga Raju and his brother have been arrested in Hyderabad and are being questioned by police. At the same time, the government has disbanded Satyam’s board of directors and says it will appoint a 10-person board to preside over the company in this crisis. “If they can get a board together in just a few days and assert control, it will settle down customers and employees,” Senatapy says. His main concern is India’s reputation in the outsourcing world. It has long enjoyed a better reputation for governance and trust than other... [read full story]
