Saturday, January 10, 2009

Satyamites criticize Infosys

There have been varying reactions by different sects after R Raju confessed his fraud. I remember when Satyam had come to visit my campus they had asked for Rs 2 lakh as security bond. Fortunately most of my batch mates did not join, else they might have lost the money.
Amongst all the companies that came to my college, CSC and Infosys were preferred by most students.

As freshers initially we have a tendency to just get a job, but looking at the current scenario I think all job seekers need to be aware of the company they join. One of my friends who unfortunately joined the group of 53K satyamites feels humiliated to be a part of the company. But there have been others who have criticized other IT firms who have stopped themselves from hiring people from the tainted company. One such letter in the ET says

Hello Mr Mohandas Pai,

Don't degrade Satyam associates to such an extent...Though there are things which have very seriously gone wrong at the higher management level we Satyamites still have hope...Most of them here are much more capable than ur so called Infosians...

Even if ur company is the last option on the Earth we will not join it....better we will remain unemployed.....

During such crisis if you are a true India u would have thought of helping the ppl under crisis...don't make any such statements which will affect the lives of thousands of Indians..


A proud Satyamite.

About Mr Mohandas Pai
[...]During his tenure as CFO, Mohan played a strategic role in transforming Infosys to one of the world’s most respected and widely-known software services companies. He put in place the country’s first publicly articulated financial policy for the company and played a key role in branding the company among the investor community and enhancing transparency and disclosure levels. The Infosys Annual Report, under his supervision, has won the Best Presented Annual Accounts Award from the Institute of Chartered Accountants of India for ten years in succession as well as from the South Asia Federation of Accountants (2000)[...] Infosys
I would like to defend the company being barraged by a group of Satyamites who have definitely thought from their heart in expressing their views. Infosys is a dream company for most freshers looking to make it big in IT sector. It is a dream not because a college terms it a dream company but because if you go through its selection process, you will realize the transparency. I was one of those lucky ones who cleared the selection process.

Price Waterhouse coopers is also in the thick of action for the auditing. I am sure Price Waterhouse coopers will come out clean because all leads in this story lead to only one story which says that Rs5000 crore in hard cash with Mr Raju and his associates in safe custody of swiss bank.

I'd like to suggest only thing i.e. carefulness has to be shown while joining a company looking at the growing number of corporate frauds and bankrupt companies.