January 7 could be observed in India as ‘Corporate Governance Day’, though it may sound a paradox of sorts.

It was on this day, exactly four years ago, that India’s so-called greatest corporate scam exploded in the public domain and in a very strange way — through a letter of admission of guilt by Ramalinga Raju, then Chairman of Satyam Computer Services Ltd. His letter addressed to the Board of Directors was historic, for all the wrong reasons.

RIDING A TIGER

The letter was like an incisive opening bowler sending successive opponent batsmen’s middle stumps cart-wheeling — right from the first to the last ball of his over. The matter-of-fact (or distorted facts?) letter which started with no frills (“It is with deep regret and tremendous burden that I am carrying on my conscience…..”) clean bowled ethics at one go. Each line was packed with bombshells and left India gasping for breath.

The crux of the fiasco — as one can infer from the letter — is that one who rides a tiger should know to get off it, so that he can continue to bask in glory, misadventure notwithstanding.

OUR OWN ETHAN HUNTS

January 7 can also be remembered for the good things it brought out. Realising the enormity of the crisis, the Central government stepped in quickly, calling all its shots right and appointed a board roping in six highly distinguished men, in two phases — our own Ethan Hunts, on a Mission Impossible (MI) task of salvaging Satyam.

And they did it in exemplary style — restoring the confidence of all the stakeholders, cleaning up the books of accounts – the Augean Stables — and handing over the reins of the company to safe hands, Tech Mahindra, in less than hundred days and in a most transparent manner.

The integrity of this MI team and its superior character was best explained by one of its key protagonists, T.N.Manoharan, in the course of a compelling speech he delivered in Muscat in late 2010. The government conferred ‘Padma Shri’ on Manoharan for his stupendous contribution in the Satyam resurrection. Manoharan said that he was humbled on learning that all the other five board members had unanimously nominated him for this award.

As a couplet in Thiruvalluvar’s Tirukural , an ancient Tamil classic of pithy two-liners conveys: Entrust a job to the right person after a thorough research of the person’s capabilities to execute that particular job and then allow him to deliver.

CANDLES TO CLEAR THE GLOOM

At a time, when India is deeply saddened and anguished by the gruesome Delhi gang rape incident, the government can translate some of its success lessons in handling l’affaire Satyam.

The contexts may look different. But the Government can constitute task forces taking people of eminence on board, a la Satyam, not only to review the efficacy of existing crime laws but also on efficient policing to prevent crimes, introducing value education in school and college curriculum and taking initiatives to arrest the growing trend of criminalisation of politics.

True, the mission looks a tall order. But, if the teams work with clinical precision, time-bound targets and the Government has the will to put in place recommendations, we can make headway in combating crimes against women.

(The author works as AGM, Powertech Engineering LLC, Muscat. Views are personal)

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