Satyam was an issue some time back., government intervened, superseeded a public company, nominated board members. The new board carried out damage control exercise, found the buyer, retained existing clients with continued service.
This is no mean achievement., and kudos to the new board.
What does it means to indian incorporate?
1. Tech Mahindra would end up borrowing close to 2000 crores to meet the funds requirement of buy out. It means, companies are willing to lend to credible borrowers.
2. Indians thrive on chaos - be it simple traffic or collapse of company. Management skills of indian managers deserves special mention during crisis.
3. Take the example of Enron / Arthur Anderson episode and compare with Satyam - The indian government took credible steps to ensure business continuity.
4. Top professionals take calculated risks and the respective boards support them. This is no simple step and indicates well being of thought process.
Let us hope we will go forward !!!
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