Disgraced Satyam Computer Services promoter B. Ramalinga Raju was to have
co-chaired a panel discussion at the World Economic Forum event at Davos, but
like global economic growth, Raju will not be able to appear, as he is
`constrained' .
Raju, accused of perpetuating a Rs 7,800 crore accounting fraud on his own
firm, is now spending time at the Chanchalguda prison in Hyderabad. While
global economic growth is now a chimera.
Last November, Raju had co-chaired the World Economic Forum summit in New
Delhi, and had presented a paper on the need for paradigm change in the BPO
industry. He had been a Davos regular for sometime.
Raju is not the only one missing out, many of the merchant bankers who used to
strut around at the conference will be missing too, for a different reason --
their company has either gone bust or is in the throes of a bail-out.
Lehman, once a much wooed corporate “strategic partner”of the glitzy
conference, is bankrupt and its contingent will be missing. John A. Thain, the
former chief executive of Merrill Lynch, has also regretted after he has been
asked to leave by Bank of America, which acquired Merrill last year. Mr. Thain,
who once ran the New York Stock Exchange, was to have taken part in a panel on
January 31, “The Bank of the Future.”
However, despite Raju's absence, the Indian contingent has actually grown.
>From 80 last year to 85 this year.
Of the 1,400 global CEOs who will participate, the list of Indian businessmen
include K.V Kamath, president of the CII and CEO of ICICI Bank, Mukesh Ambani,
chairman and managing director Reliance Industries, Kumar Mangalam Birla of the
Aditya Birla Group, Sunil Mittal of the Bharti Group, Rahul Bajaj of the Bajaj
Group and KP Singh of DLF Ltd.
S Ramadorai, CEO and MD of India’s largest software services firm, Tata
Consultancy Services, and chairman of the Bangalore-based Wipro Ltd, Azim
Premji, are also part of the delegation. Wipro is expected to throw a dinner at
the global event, while a local club will host a Bollywood nite where among
others the Big B may be present.
While Anand Mahindra of Mahindra & Mahindra, will chair a meeting with Kofi
Annan, former secretary-general, United Nations.
Davos, this year is however likely to be dominated by government leaders as
bail-outs, restructuring of the global economy would be the key focus of the
conference. Thos who are likely to dominate at the summit wqould be the likes
of Chinese premier Wen Jiabao, Russian prime minister Vladimir Putin, British
PM Gordon Brown and Angela Merkel, the German chancellor.
The theme for this year’s meeting is “Shaping the post-crisis world.” More than
2,500 participants, including 41 heads of state or governments will participate
in the forum.
When it comes to representation from the government here, India will be low key
with commerce minister Kamal Nath leading the charge with science &
technonology minister Kapil Sibal and plan panel deputy chairman Montek Singh
Ahluwalia in tow.
Nath is expected to make the right noises to ensure Indian industry is not
painted with the same brush used for Satyam.
.
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