SATYAM saga

Ironic name for a company mired in financial fraud allegations, but the focus here is more on the inadequacy of some other organizations:

1. NASSCOM:
Supposedly the flag bearer of the Indian IT industry, and cannot protect a single member from losing its clients or employees. NASSCOM probably came out the weakest link in the saga. Acting just like the UN during international conflicts, but I would have expected NASSCOM to come out with
a) An actionable plan to salvage the firm
b) Strict NO on all members to poach clients (including projects of Satyam in clients where other members have incumbency)
c) Strict NO to poach Satyam employees
d) Provision of finance to cover Satyam's immediate expense
e) Strategic Administration at Board level and Operational Leadership so that business stays with Satyam
f) Aggressive pitch for Satyam with Global media, given that firm has value for clients, and its only the promoter that has misbehaved

Of course, NASSCOM did none of these, but kept issuing appeals. Maybe its just meant to host lunches, hold federation type talks and keep issuing public appeals. Thanks NASSCOM for clarifying your role.

2. ICAI:
Did'nt suspend PwC right away, Didn't suspend the participating partners pending a survey. Instead, came out with a statement that PwC is not liable if found guilty, the partners maybe.
Link here: http://www.cainindia.org/news/1_2009/action_against_partners_not_audit_firm_says_icai.html

My simple response to this with all due regards to the m(%&£$f%cking decorum is WTF!!!. This is as outrageous as anything I have heard/seen so far.
Were these guys signing in their own capacity or as PWC partners? For God's sake, either act and act assertively or confess that you are imbecile, incapable of action and will positively do everything to save the biggest names and successively reduce the net so that the smallest fish is caught.

BTW, how about issuing a statement that since the partners only signed the statement but did not conduct the audit, those who *actually* conducted the audit will be punished, and if research shows that the audit was never conducted, everyone can go back to their work as usual

3. Indian IT companies

I will reserve this for now, because this is not exactly the forum to use the expletives I'd want to.

But very simply put, toothless, shameless, spineless response by Indian IT companies. For every other company in the segment, its a clear signal that: 'if things go wrong with you, screw NASSCOM, screw the spirit of healthy competition. We are out there to screw you.'

I have a much larger list than this compilation ranging from Indian Government to AP Government to other regulating agencies and organization. But in terms of sins committed, I think these 3 overshadow Raju's sins.