Analysts descibes 'Satyam as India's Enron. [Thursday, January 8, 2009]
Satyam Computer's Services Limited, the receipient of 'Golden Peacock' award from the World Council of Corporate Governance was descibed as the Enron of India by analysts. The scam came as a shock to the country on Wednasday. With the resignation of Ramalinga Raju, CEO of the company and the leak of the scandal, Satyam's shares came to a low of Rs 39.95 from Rs 188.70 when the market opened. The scandal is said to affect the IT industry very negatively and is also expected to undermine confidence of foreign investors.