SPECIAL COVERAGE
CHANDIGARH

LUDHIANA

DELHI


THE TRIBUNE SPECIALS
50 YEARS OF INDEPENDENCE

TERCENTENARY CELEBRATIONS
L E T T E R S    T O    T H E    E D I T O R

Punish economic offenders swiftly

The editorial “Asatyam” (Jan 9) has thrown light on the fraudulent manipulations of Satyam. The mega fraud has not only added to the economic crisis but has also jeopardised the future of 53000 employees and shattered the investors’ confidence in the stock market which is already fragile.

The unambiguous confession by the company’s chairman is only an eyewash. Ironically, we have no safeguards to protect the shareholders. Nor do we have any system of swiftly punishing those who commit corporate crimes. Economic offenders invariably with money power manage to influence the process of retribution, if at all it is initiated. Our political leadership never goes beyond setting up enquiry committees. By then the guilty manage to manipulate the system and the public forgets the damage done.

No doubt, developed countries too are besieged by scams but they have the system and the political will to take quick action against the guilty.

VED GULIANI, Hisar




II

The manipulation by Satyam has dealt a severe blow to scores of hapless investors. While the regulating bodies seem to have no answers, auditors who could have prevented this shocking business disaster too remained mum all this while. Actually they are as guilty of the crime, which has left scores of investors and employees in the lurch.

I am of the view that organisational effectiveness and efficiency can well be achieved if professional auditing takes due care of two aspects: “doing right things” and “doing the things right”. Healthy auditing and the role of regulating bodies are very important in promoting effective corporate governance.

RAJESH SARAF, Ludhiana

III

I agree that Satyam is not the first or the last villain in the corporate world. Hundreds of companies have manoeuvred their balancesheets before. Actually, villains and rogues appear on the corporate horizon periodically and dupe the innocent investors and disappear.

All this is possible only due to the connivance of the regulating agencies. If the wrongdoers are brought to book, the investor can regain confidence in the system.

LAJPAT RAI GARG, Chandigarh

IV

The Satyam fraud has dented not only the image of the company but also of the Indian corporate community as a whole. This entire episode needs a thorough investigation, particularly the role of auditors in the affair. Plus the shareholder’s interest must be protected and the investor’s confidence in the market restored.

JASLEEN SINGH, Bangi Kalan (Bathinda)

Egypt’s dilemma

Ashraf Khalil’s article “Egypt caught in conflict” (Jan 1) has aptly brought out the dilemma of Egypt caught between Israel and the Gaza Strip. It is indeed facing a difficult situation. If it opens the border with Gaza, Palestinians would flood Egypt, causing enormous problems.

It would require tremendous tact and toughness on Egypt’s part to keep the equation balanced. Let us see how the Egyptian President Hosni Mubarak plays his cards.

KJS AHLUWALIA, Amritsar





Spirituality is the key

The middle “Maska maar ke!” (Jan 6) by S. Zahur H. Zaidi was very apt and interesting. On a serious note, the spiritual knowledge has become the need of the hour. A man without moral values is a blight for society. Isn’t it shameful that a show-cause notice had to be issued to Punjab and Haryana High Court Judge Nirmal Yadav, asking her why action should not be taken against her for her alleged involvement in the cash-at-door scam?

India has been a spiritual beacon to the world and has emerged as a power because of its strong spiritual roots. Today, people run after power, money and material benefits. They should pay heed to Lord Jesus Christ’s words of wisdom, “How does it profit thee if you gain the world and lose your soul”. Actually, without spiritual knowledge, no lessons can be learnt.

RANJANA BHARDWAJ, Panchkula

 





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