Infosys lauds govt action in Satyam case

Software exporter Infosys lauded the government action in the case of fraud-hit Satyam and said Q4 would be key indicator to see how companies pan out their growth strategies for the next fiscal.

"For the first time we have seen organs of the government work. They moved very fast. Within two days some of the directors were arrested. We have not seen that happen for many years... We have seen very fast actions. We have to wait there is a process. This time we can show to the world that we are serious about enforcements," Infosys Director (HR) T V Mohandas Pai said here on the sidelines of the Ficci AGM.

He said the key issue for India and corporates is the enforcement of laws. Sebi has set up an investigation team. SFIO has set up an investigation team. Enforcement Directorate has doen that. Department of Company Affairs, CID has done it also. There probably too many agencies doing the same thing.

Pai said in most markets it takes 2-3 years to complete the investigation and punish the culprit. It should be the benchmark that India should have -- 2-3 years during which you will be able to punish people.