Indianexpress.com : comments : Govt calls Satyam a unique case, mulls bailout

Govt calls Satyam a unique case, mulls bailout

Mumbai: The Government is looking at all aspects to help troubled outsourcer Satyam Computer Services Ltd, Commerce and Industry Minister Kamal Nath said. "The Government is looking at all aspects... Once the board comes up with its proposals, Government will consider," Nath told reporters. He did not ....Read more

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43 Comments |

Nationalisation of satyamBy: vijay | Tuesday , 13 Jan '09 16:04:10 PM Reply | Forward Satyam can be nationalised and given a new name like Indian National Software services or Rajivgandhi National Software services with 51% government holding.This will help government to get qualifty software services for its goverment projects at lesser cost also.

Satyam By: rk tiku | Tuesday , 13 Jan '09 10:55:08 AM Reply | Forward How govt works is lost on me. A private entity Satyam commits all kinds of frauds and govt is ready to bail it out with taxpayers money. And when officers of its own oil companies are languishing for a long overdue payrise ( since 1997) and fail to get the attention of babus and the politicians and resort to a peaceful strike the draconian might is unleashed on them.

What Wisdom...By: Oilman | Tuesday , 13 Jan '09 10:45:37 AM Reply | Forward When private avaiation bosses threatened to close down operations and mock sacked 2000 employees, the Govt quickly gave 20,000 crore package to bail them out. Now Govt. is working overtime to bail out another private enterprise with public money.Contrast this with the treatment meted out to India most productive and highly qualified 45,000 Oil Sector executives, who bailed out the Government through unprecedented Oil crisis. For last two years this hyper active Govt (in case of Private Enterprise), could not decide on a well deserved and justified pay revision. That also after 10 long years during which the country enjoyed tremendous growth of 8-9%. For few hundred crores of well deserved wage hikes Govt, because of its callousness and ego of few Babus in MOPNG, allowed things to precipate to an ugly stage of open confrontation. Result - Financial losses of thousands of crores-Complete decimation and demoralization of highly productive, desciplined knowledge workers

Govt help to Satyam By: Dr R P Pareek | Tuesday , 13 Jan '09 10:18:23 AM Reply | Forward The Govt wants to help Satyam Computers Ltd.Will it use the tax payer's money to bail out a fraud company? The tax payer never got a share of profits of this company.The Govt does not have any right to waste taxpayer's money to save a fraud.

Not LogicalBy: BS Krishnamurthy | Tuesday , 13 Jan '09 9:37:24 AM Reply | Forward The trouble with Satyam Co is probably due to man's greedy attitude. When there is agricultural crop failure due to natural havoc or any other reason the formers are rarely adequately covered by Govt bailout. India is an agricultural country and why there should be bailout. Let Satyam borrow money from banks and meet the necessasity.It is not right to use taxpayers money to bailout. Many firms have boomed and collapsed for reasons. They have not been bailedout. Bailout unilaterally is not correct. On the other hand the culprits have to be booked according to laws of the country.

In favour of collective punishmentBy: Ashim Kumar Chatterjee | Tuesday , 13 Jan '09 9:30:41 AM Reply | Forward Satyah lower scale. m scam has yet again exposed Indian pivate sector's dishonesty yet again. It should not take anybody by surprise. Such things have been happening on much lower scale. Unsecured corporate fund transfers, independent directors completely playing subservient to owners of business etc are very well known. There should be a system of collective responsibility and punishment in place in all aspects of corporate governence, bureaucracy, political admisnstration and our lives generally. Corruption, whic, h is tolrated and even accepted till it is exposed and sympathised after exposed under different said and unsaid pretexts, is at the root of all evil. In case of Satyam, it should be nationalised to begin public sector inroads into IT sector as competitor to private sector and real and not market sentiment based worth of Satyam stock should be made public. Possibly, this should be done in case of all listed companies with management volunteering.

buisnessBy: buble | Tuesday , 13 Jan '09 9:29:18 AM Reply | Forward This is avery sad part . The government is bent upon killing oil psu which are jewels of this country and bailing out the pvt sector companies who have done massive frauds shame shame

Market Economy and Stock ExchangesBy: Srinivas | Tuesday , 13 Jan '09 9:08:39 AM Reply | Forward Why market economy need not to necessarily depend on the stock excahanges which are becoming dens of the greedy and unscrupulous anti social elements. If the saving is stream lined into a real production thru an agency managed by federal/central govt sponsored institution gauranteed by the central bank of the country, there is security to the small investors who retirement is dependant and like wise the investments and also avoids many more satyams and share market scams

The real solutionBy: Baatul | Tuesday , 13 Jan '09 8:50:33 AM Reply | Forward If govt is serious, govt must ensure the Cash Reserve of Satyam comes back to its books. To start with, all personal assets of Raju and family should be put back into Satyam. Alongwith it, finance house like Fidelity and Aberdeen who made money by selling the Satyam stocks while keeping retail investors getting needs to be heavily fined. Thirdly, all the personal assets of the partners of Price Waterhouse must be attached and included into Satyam's balance sheet. That's the only way RIGHT JUSTICE will be meted to small retail investors who were taken for a ride by these main ACTORS.

WHat about the previous board of SatyamBy: Dr. Kamal | Tuesday , 13 Jan '09 8:32:43 AM Reply | Forward what about the board of satyam. Most of they were very well off people in the US and India. They received a huge sum and failed in their responsibilities. Can anyone tell me if the SEC and CBI are going after the prior board members in the US and India.

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