Rabble Rousing Random Ramblings: Ramalinga Raju for Warren Anderson?

January 22, 2009

Ramalinga Raju for Warren Anderson?

Shortly after the former Satyam founder-chairman Ramalinga Raju admitted to cooking the books to the tune of over Rs. 7000 crores, class action suits were filed in the USA. A class action suit is sort of like a PIL, except that PILs in India can be filed only against state or public bodies while class action suits can be filed against everyone, including private companies and individuals. In addition, someone filing a class action suit must necessarily have suffered financial/legal injury. As a result, it could be likely that Ramalinga Raju will have to face trial in US courts. I guess that's part of being a listed company on US stock exchanges.

I'm all for him being trialled in US courts provided that in exchange, the Indian government gets the new US government to extradite Warren Anderson to face charges in India.

Warren Anderson who? Warren Anderson was chairman of Union Carbide when the pesticide factory leaked Methyl Isocyanate in Bhopal nearly a quarter of a century ago. He currently lives in Long Island, New York.

Labels: accident, accounting, bhopal, india, satyam, scam

Rambled @ 3:57 PM

Did you like the post? [ Subscribe to the blog feed - | | Tweet ]

0 comment(s)

I'd prefer if you posted comments with your real name to add more credibility to your opinions. Obviously comments containing offensive and unsuitable language will be deleted. The opinions in the comments are your own views. You are welcome to provide a URL to your own blog, especially if it discusses issues you find here.

Post a Comment

Some of the sites linked in my rants may require registration/subscription. Links within my ramblings open in a new window.
Some of the links may now be broken/not take you to the expected report since the original content providers may have archived/removed the contents.
All opinions expressed are mine alone. My employers (past, present or future) are in no way connected to the opinions expressed here.
All pictures, photographs used are copyrights of the original owners. I do not intend to infringe on any copyright.
Pictures and photographs are used here to merely accentuate and enhance the content value to the readers.

Ramalinga Raju for Warren Anderson?

Post a Comment

Previous Posts