The culture at Satyam, especially dominated by the board, symbolized an unethical culture. On one hand, his rise to stardom in the corporate world, coupled with immense pressure to impress investors, made Mr. Raju a “compelled leader to deliver outstanding results”. On the contrary, Mr. Raju had to suppress his own morals and values in favor of the greater good of the company. The board connived with his actions and stood as a blind spectator; the lure of big compensation to members further encouraged such behavior. But, in the end, truth is sought and those violating the legal, ethical, and societal norms are taken to task as per process of law. The public confession of fraud by Mr. Ramalinga Raju speaks of integrity still left in him as an individual. His acceptance of guilt and blame for the whole fiasco shows a bright spot of an otherwise “tampered” character. After quitting as Satyam’s Chairman, Raju said, “I am now repared to subject myself to the laws of land and face consequences thereof”. Mr. Raju had many ethical dilemmas to face, but his persistent immoral reasoning brought his own demise. The fraud finally had to end and the implications were having far reaching consequences. Thus, Satyam scam was not an accounting or auditing failure, but one
of CG. Undoubtedly, the government of India took prompt actions to protect the interest of the investors and safeguard the credibility of India and the nation’s image across the world. In addition, the CG framework needs to be strengthened, implemented both in “letter as well as in right spirit”, and enforced vigorously to curb white-collar crimes.