Reports that Ranbaxy had falsified test records filed with the US FDA. Avesthagen, a 'bio-tech' company sees several independent directors quitting. The owner of the company said that the company has three audit firms. But fact is that co has reduced staff, is seeking loans and equity all over again. Real estate companies are now going to face ire of people. Projects getting delayed, buyers ganging up for price rebates, and traditional dishonest practices of real estate companies now getting aired. Recession is a good time to shoot the breeze. People accusing Siemens of jiggery pokery in transfer of Indian subsidiary to parent company.
Virtually all Indian companies are going to be under the lens. Whilst nothing new will be discovered ( dishonesty is a way of life for Indian companies) media can have something to fill the pages.
One ex-minister sentenced for accumulating wealth beyond the known sources of income! This is hilarious. No politician wants to comment because he knows that when he points one finger at someone, the other three and the thumb are pointed at himself. Let us cut the charade and get on with life. How many career politicians you know have any 'known' sources of income but are reported to own wealth far beyond any limit? The other thing is to find out if you know any one politician whose wealth is smaller than what his income ticket is? We Indians accept corruption as a given fact.
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