Prof. Jayanth R. Varma’s Financial Markets Blog

A blog on financial markets and their regulation

Satyam and Maytas

Sandeep Parekh has two
posts
and and T T Rammohan has a post on the corporate
governance issues raised by the aborted acquisition (bailout?) by
Satyam of Maytas – a company owned by Satyam’s
promoters. Sandeep Parekh concludes: “I think this is a clear
case of violation of fiduciary duties by the executive and independent
directors of the company and I would go so far as to state that they
have violated all three duties imposed upon them as fiduciaries
– the duty of care, the duty of diligence and the duty of
loyalty.”

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