Government should have replicated Satyam experience in BCCI

G.S. Vijay Kumar By G.S. Vijay Kumar, 5th Aug 2013 | Follow this author | RSS Feed | Short URL http://nut.bz/3d33vrub/
Posted in Wikinut>Writing>Columns & Opinions

The latest development in the cricketing world covering the Board of Control for Cricket in India (BCCI) and its flagship brand, the Indian Premier League (IPL) is, to say the least, very disturbing and disheartening. After all, Cricket is more of a religion to the millions of people in this country and whenever it is in the news for the wrong reasons, it hurts one and all. It is apparent that the faith in Indian cricket has been shaken by this unfortunate incident.

BCCI and the cricket scam

Government should have replicated Satyam experience in BCCI

The latest development in the cricketing world covering the Board of Control for Cricket in India (BCCI) and its flagship brand, the Indian Premier League (IPL) is, to say the least, very disturbing and disheartening. After all, Cricket is more of a religion to the millions of people in this country and whenever it is in the news for the wrong reasons, it hurts one and all. It is apparent that the faith in Indian cricket has been shaken by this unfortunate incident.

It may be pertinent to mention that these allegations too would have been brushed under the carpet, but for the intense public and the media pressure which forced the BCCI to act. Even here, the drama that unfolded in Park Sheraton, Chennai as well as in Taj Mansingh, Delhi, on Sunday June 2nd speaks volumes about the intentions of the Board and its eminent members. The public perception appears to be “Fixing is not confined to matches alone but exists even in cricket administration”.

However, what is intriguing in this whole exercise is the stark silence on the part of the government, albeit some statements emanating from some of its ministers here and there. The way the government intervened in the Satyam Computers episode way back in 2009 was what was expected from them but that was not to be.

The Satyam scandal, one of the worst corporate frauds in the history of corporate India, came to light in early 2009 where its then chairman Ramalinga Raju confessed that he had manipulated the accounts of the company to the tune nearly US $ 1.45 Billion. This confession by a corporate czar shook the corporate world, the employees of Satyam, the investing community, the credibility of the IT industry as well as the role of Auditors. Fortunately, the government as well as its other wings acted swiftly and decisively, first by terminating the then existing Board at Satyam and formed an interim Board by appointing noted banker Deepak Parekh along with former NASSCOM chief Kiran Karnik and former SEBI member C. Achuthan. This was followed by the appointment of a CEO for the company and then eventually through a formal public auction process, Tech Mahindra bought a 46 % stake in Satyam computers to form Mahindra Satyam.

If only the Government had acted with the same degree of swiftness in the IPL spot fixing and betting scandal, a lot more could have been achieved. Whilst one doesn’t know the exact reason for government’s silence, it may not be out of place to mention that such an action may have been influenced in view of the presence of many political bigwigs in cricket administration, cutting across party lines.

The IPL spot-fixing and the betting scandal that has surfaced raise many questions about the state of cricket in the country. Millions of cricket fans are disillusioned with the sport as well as the people manning the sports administration. The speed at which scams are being unearthed, involving players, bookies, team owners, umpires and the sundry, one is left to wonder, as to where this cricket playing nation is heading towards?

If the government was worried then to protect the interests of the Indian IT industry, the employees of Satyam and the interests of its shareholders, not necessarily in that order though, the inaction on their part on this occasion is unpardonable. It may be worth reminding the government that cricket is practiced as a religion in this country and millions of fans in India are emotionally attached to this multi -billion dollar sport. How could they look the other side when such a large community of cricket lovers was taken for a ride by some unscrupulous elements?

We need to urgently cleanse the mess that has befallen cricket. If quick and timely action is not taken, this may lead to disastrous consequences.

G.S. Vijay Kumar is a senior corporate executive and a columnist.

Tags

Bcci, Bcci President, Betting, Board Of Control For Cricket In India, Cricket, Gurunath Meiyappan, Indian Cricket, Indian Premier League, Ipl, Ipl Scam, Match Fixing, Nsrinivasan, Sreesanth, Vindu Dara Singh

Meet the author

author avatar G.S. Vijay Kumar
I am a management graduate and have worked as a senior executive for 25 years in the corporate sector.I am a columnist and write on management, Economics and socio-economic topics.

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