Posted by: ne0 January 11, 2009
70 Billion Rupees fraud in India
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http://news.in.msn.com/business/article.aspx?cp-documentid=1773411

Satyam scam: The mega corporate fraud

Satyam scam: The mega corporate  fraud

Satyam
Computers Chief Ramalinga Raju's revelations about a Rs40 billion fraud
committed by him have sent shock waves across the corporate world.
India Inc's biggest fraud is bound to have a ripple effect on many
sectors. The Indian IT outsourcing industry, which is thriving on the
goodwill and reputation it has built over a period of time among the
global clients, is expected to bear a major brunt of the Satyam episode
in coming quarters. Though Satyam does not represent the whole Indian
IT industry, this one individual fraudulent act  will erode Indian IT
industry's international standing. Read more about the different
dimensions of Satyam scam.....

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