Corporate India's Governance Crisis

摘要

Management was mulling a purchase of shares in Satyam Computer Services. The Indian outsourcing shop's stock price had dropped sharply and seemed attractive. But Jayant Sinha, a managing director at Courage Capital, decided the outsourcer's balance sheet lacked the kinds of disclosures he needed to make an investment. "These were red flags, and I wanted to probe.them further," Sinha says. A day later, those flags came into full view as Satyam Chairman B. Ramalinga Raju confessed to fraud that led to a loss of $1.5 billion for his company.