BAN THESE PRIVATE ARMIES

The recent assault on a Mangalore pub by the so called moral police “Sri Ram Sena” to enforce a moral code on pub goers cannot be reviewed as a stray incident, but with concern and alarm. The Maharashtra Navnirman Sena also, recently, under the leadership of a member of parliament, invaded a school during the republic day function and manhandled the students in the name of parochialism. What signals are we sending to a civilized society? Are we stooping so low to be branded as the world’s largest mobocracy? We cannot allow vandalizing hooligans to disrupt the normal life in the society. They need to be dealt with iron arms regardless of their religious or political affiliations and the offence should be made non-bailable.

There are various other means of moral policing, but through non-violent means. You can mount an awareness campaign through email or distribute advisory leaflets or by even hold demonstrations, but resorting to violent means only lead to aggravating the problem. If every political party is allowed to raise its own army, there will be total chaos in civic life and will interfere with the effective functioning of the police force. There should be total ban on these illegal entities.

TAINTED SHOULD BE OUT OF POLITICS

The induction of Sanjay Dutt to Indian political arena under the banner of Samajwadi party is unfortunate in that it is showcasing the quality of Indian democracy which is known globally for empowering candidates with criminal records.

Sanjay Dutt had been earlier found guilty for unlawful possession of weapons by TADA court and convicted for a jail term. Amar Singh appears to be wanting to capitalise on Dutt's "Munnabhai" reputation to gather votes. What he does not want to understand is that by fielding a candidate with a record of conviction, he is encouraging people with tainted records to be elected to public office.

If good governance has to become a reality in India, candidates with history sheets should be debarred for life from contesting in polls. If Satyam fiasco has tarnished the brand equity of India Inc., the admission of Sanjay Dutt to Samajwadi party will damage the image of our democratic set up.
TAINTED SHOULD BE OUT OF POLITICS

The induction of Sanjay Dutt to Indian political arena under the banner of Samajwadi party is unfortunate in that it is showcasing the quality of Indian democracy which is known globally for empowering candidates with criminal records.

Sanjay Dutt had been earlier found guilty for unlawful possession of weapons by TADA court and convicted for a jail term. Amar Singh appears to be wanting to capitalise on Dutt's "Munnabhai" reputation to gather votes. What he does not want to understand is that by fielding a candidate with a record of conviction, he is encouraging people with tainted records to be elected to public office.

If good governance has to become a reality in India, candidates with history sheets should be debarred for life from contesting in polls. If Satyam fiasco has tarnished the brand equity of India Inc., the admission of Sanjay Dutt to Samajwadi party will damage the image of our democratic set up.

PARADIGM SHIFT IN PROFESSIONAL ETHICS

It appears to be story of the fence that ate the harvest. So in the case of Satyam’s auditors, it is a case of the watch dog shifting loyalties. PriceWaterhouseCoopers, an internationally acknowledged firm of professionals, have been so negligent in their duties that they have tarnished the image of a noble profession.

Times are changing. Greed has taken over and professional ethics are being ignored. A battery of twenty five lawyers is busy out there, struggling to read between the lines and looking for potential loopholes in law to bail out Ramalinga Rao and his accomplices. The legal profession, whose main job is to uphold the laws of the country, is trying to crack the laws to shield the criminals.

Window dressing the balance sheets, under and over invoicing, deflating the liabilities, inflating the assets, etc. have become part of the game plan that business houses are resorting to determine the value of their shares in the market. This is tarnishing global image of India Inc. in this era of globalization. Corporates needs to practice self regulatory mechanisms and ensure absolute transparency to retain their brand equity in the market place. Institutional controls are only complementary.

BOOK THESE CORPORATE TERRORISTS

The revelation of Ramalinga Rao, Satyam’s chairman, is really shocking. Apart from causing great loss to the investor, it has shaken the public confidence in the corporate governance of business houses and, in the process, has shattered the image of Indian companies in the international market. It has proved that the audited financial statements cannot be relied upon and is signaling the arrival of a new era of auditor-management nexus hitherto restricted to politician-criminal caucus.

Terrorists kill the innocent with AK47, but these corporate terrorists possess weapons of mass destruction which brings misery to the families of thousands of unsuspecting investors. Regulatory authorities like SEBI and other government bodies will make strongly worded statements (in line with what our ministers make in the event of terrorist attacks) and, in the end, the system, which is lenient towards the wealthy, powerful and influential, will look the other way.

In my opinion, the entire Board of Directors and their accomplice, the auditor, should be tried under anti-terror laws.