This refers to ‘Acting in haste’, January 30 by Shobhana Subramanian.
The writer has raised some pertinent questions with regard to Larsen and Toubro (L&T) picking up an additional 8 per cent stake in Satyam Computer Services. It is rather intriguing as to how the management of L&T is still buying into Satyam even though it is clear the accounts of Satyam do not represent anywhere near the real state of affairs in the company.
I only hope that L&T’s top management/board has discussed the consequences of its actions, particularly at a time like now when most companies don’t have access to cheap money to be able to take bold gambles; in any case, integrating the operations of L&T and Satyam will not be easy either.
Venkateswaran B, Chennai