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January 9th, 2009

January 10, 2009
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After a spate of resignations and a press conference by senior management who addressed various issues, the day started with an unusual calmness in a lot of places. While in most locations it was business as usual, it was heartening to see thousands of people brainstorming via mails and face to face conversations. Right from ways to cutting down on unnecessary expenses to judicial usage of official resources, the office was brimming with ideas. I guess it’s human nature which brings a group closer in the hour of need and rightly so, a lot of us need that more than ever now! Communication over the past few days between various units and associates has increased manifold with several leaders and associates from all bands doing their part.

A rumour slowly wafted across the offices that our Ex-CFO had attempted suicide earlier today…a report of which had appeared on Times of Indiaaround 12:20 PM…certainly not an incident which we could think of. Just around this time, NDTV Profit published an article about a new project (Malaysian Airlines) which Satyam had bagged. A much needed respite to an otherwise horrific turn of events.

Thanks to some proactive measures by everyone around, the day shall garner an impeccable infamy in the annals of history. The Government finally stepped in and dissolved the current board and has set up a deadline of one week to appoint a new board of directors. If the government is indeed honest about protecting people’s careers as well as saving the company, then it would be interesting to see who will be the new set of people this time. We certainly don’t have a Warren Buffet here, but certainly there are good number of people who will do everything possible to keep the ship sailing without throwing the sailors into the sea! 

The final blow came, when Raju and his brother surrendered to the police who subsequently arrested the brothers. They are scheduled to appear before SEBI later on Saturday. It’s difficult to treat Raju as just another Telgi or Harshad Mehta…what he did for thousands of people among us over the past 20 years makes him a breed apart. Sure his demigod status has been tarnished among so many of us…but at some level it’s difficult not to empathize and sympathize with his situation.

At the end of the day, one thing I still cannot understand is, why would he want to do all this and let investors lose billions of dollars! The irony is, Investors and other stakeholders have always been at the heart of our existence as we move ahead with the society.

So Strange…Life is. Wisdom always seems to come way too late sometimes.

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