Had it not been for a fraud, the way things were manipulated for over seven years in IT major Satyam Computers could be a “work of art”, former Securities and Exchange Board of India Chairman M Damodaran said.
“If it were not for a dishonest purpose, the planning and execution to the minutest detail was a work of art,” he said at a gathering of CEOs hosted by CEO Clubs, a business network organisation, yesterday.
Damodaran, who is on the board of software firm Tech Mahindra, which made the successful bid for Satyam, said the fraud at Satyam was “unique” and he believed it was an isolated case, not reflective of the state of affairs of India Inc.