While the United Progressive Alliance (UPA) government is keeping an eye on the Satyam situation and its larger effects, Minister of State for Information Technology Jyotiraditya Scindia today pitched for a stronger corporate governance measures to prevent such frauds in future.
"I think the most important thing is to have the measures in place to ensure something like this does not happen in terms of corporate governance across the country," Scindia said today.
On January 7, Satyam’s founder B Ramalinga Raju had confessed to forgery of over Rs 7,000 crore over during last few years. The biggest corporate governance scandal of this country has thrown the future of the country's fourth largest computer services provider and its 53,000 employees into uncertainty.
The UPA government has already appointed six independent directors including Tarun Das, Deepak Parekh and Kiran Karnik. Prime Minister Manmohan Singh is also taking regular reports from his ministers and officers on the issue.
