Satyam scandal could benefit India

In addition to the massive equity losses, the recent Satyam scandal in which it was revealed company sales, profits and cash balances had been inflated for a number of years, has raised concerns about corporate governance in the region. However, Bhupinder Sethi of Indian conglomerate Tata and manager of New Star Indian Equity, says corporate governance is not an issue for India and the scandal being exposed now was not dissimilar to the banking crisis we have seen in the West. "The Satyam fraud is obviously a shocking one especially as it was not a company you would have expected. It w...