With the Satyam scam unfolding, I would not be surprised if 2009 is the year of scams for India Inc.
Having worked for a BSE30 companies, with many customers also BSE 30 companies, I got a very good idea of how Indian companies work, their decision taking process and how well they are run.
From a distance, they may have an attractive image (thanks to their PR agencies ) , but you work closely, nothing remains hidden. Till 6 months ago, no one cared much for the PSUs, but some of them are very efficiently run.
It is many of family run companies which cause alarm. When the owners spend millions on expensive business jets, cars or gifts to their wives /girlfriends it is a cause for alarm.
I remember reading somewhere that if you see the management of a company in too many page 3 type or society photos, it is a sure sign that the company is going downhill. Most of our media only glorify these excesses when they should raise the alarm bell. If you are making a lot of money from your business, invest it back, don’t waste it on luxuries, but unfortunately this does not happen in India.