Letters: The truth behind Satyam

Apropos the editorial "An inevitable end" (April 10), the Satyam saga will stretch into infinity and perhaps the conspirators will meet their natural end before the case is decided. The prime reason being that those who are supposed to get after fraudsters have their fingers in the pie. Witness the fact that Sebi, the so-called "independent regulator", was not allowed anywhere near the fraudsters for interrogation. But does the fault lie only with company officials? How come no banker saw the huge discrepancy between the company's balance sheet figures on bank deposits and the actual deposit with the banks themselves? And hidden in the episode is the speed and alacrity with which the government moved to get the company back on its feet. If a company is an independent entity and equity embodies risk, then why should there be external salvage operations?

T R Ramaswami Mumbai

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