Satyam Fraud:"A great piece of art".

According to Mr M.Damodaran,former SEBI(Securities and Exchange Board of India,which is an Indian equivalent of SEC)chief has described the Satyam scam as a great "piece of art".We have to admit that Mr Raju was very adept in cooking up the books and that too for a period of nine long years!Mr Raju had very cleverly sold the stocks of the company when in the year 2000 the stock price had rocketed due to his manipulations.Mr Raju had been exaggerating his assets and understating his liabilities which helped him earn the faith of shareholders all these years.
Mr Damodaran said that Satyam scam should be studied to check future scams of the similar nature.Satyam,which is called India's Enron was the 4th largest IT company of India hitherto.Studying the nature of this scam will be very useful for management institutes.Mr Raju is right now under custody along with his loyal CFO.Though companies like Infosys have refused to do any sort of business with Satyam,Tech Mahindra acquired it recently.This company has great potential and the scam can prove to be a boon for those shareholders who bought it at dirt cheap prices,right after Mr Raju pleaded guilty.Mr Raju can be a great help to people who want to save for their daughter's dowry( Just like Dhirubhai Ambani!!!)