The very first vicarious news in the year 2009…India’s 4th largest software company admitted / declared the malpractices being followed by them since last few years ! News channels were flooded with high profile 7000 cr scam and related news…The moment i heard the news…The very first thought sparked in mind was “what about company’s 53000 employees and their future??” Everybody will be on road if company goes down.Numerous people have invested huge amounts in the companies shares.
Now over the week and more there are major happenings on and off the screen…just in a day on-line job portals are flooded with 14k or so resumes..everybody is discussing “What Next” ?
I was always proud to say that Indian IT industry proved to the world that “We have the best young IT prowess in the world” But this whole episode has decimated Indian IT’s image.
I know these kind of scams are very rare in other countries…but as they say Everything and anything can happen in India !
Strings 
Forgot to mention to you, in my previous comment. When you say these kind of issues are very rare in other countries. Let me say, it is there everywhere. But yeah we definitely lack corporate governance. Satyam was audited by PWC. PWC is not indian company. Tc.