Satyam scam: The mega corporate fraud

Satyam Computors chief Ramalinga Rao's revelations about a Rs40 billion fraud committed by him have sent shock waves across the corporate world. India Inc's biggest fraud is bound to have a ripple effect on many sectors. The Indian IT outsourcing industry, which is thriving on the goodwill and reputation it has built over a period of time among the global clients, is expected to bear a major brunt of the Satyam episode in coming quarters. Though Satyam does not represent the whole Indian IT industry, this one individual fraudulant act will erode Indian IT industry's international standing. Read more about the different dimension of Satyam scam

source :http://news.in.msn.com/business/article.aspx?cp-documentid=1773411