While Ramalinga Raju’s purposeful 7000 crore fraud is of an unforgivable magnitude, the 53,000 employees do not have to be punished for no fault of theirs. The Government who is very concerned about these employees is even considering a bail out for Satyam, if needed.

Union Minister of State in PMO, Prithiviraj Chavan, said the Centre is at present concerned about the future of 50,000 employees of the disbaned Satyam.

Describing the Satyam scam as an “isolated case”, Chavan said the government will look whether its regulatory mechanism has failed somewhere.

“Inspite of our regulatory system, a crime has been committed by a determined CEO (of Satyam),” Chavan told reporters adding despite Banking regulatory, SEBI and Chartered Accounts, it was surprising that at no stage the scam could be detected.

Citing examples of identical frauds in other countries, Chavan said there could be a nexus of some people who exploited loopholes.

To a question, he said the last session of Parliament is likely to be convened next month for 10 days to pass a vote on account and may end by February 24 or 25 as the country waits for the Election Commission to announce the dates for general elections which are expected to be held in April-May.

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