Personally I feel Wipro should have come out to all its shareholders about the world bank matter in 2007 itself and said we are working on the matter; this would have given a clean image to the company. World Bank is an important name and thus it was important.
Explanations given are mere covering of the issue. US regulators approved the DSP and hence they could sell to World Bank employees are wrong until Wipro can show that us regulator gave specific permission to sell to World Bank guys. Also note that the shares were bought by wives of world bank employees which shows that things were not straight This incidence will further undermine the image of the fairness of an Indian corporate.
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About Siddhartha Shankar
In the last 12 years, Mr. Siddhartha Shankar has established himself as a master in tackling financial hurdles for his clients. His expertise is to structuring Financial Products for companies to cover their financial risks that were generated due to their international exposure to Money and commodity markets. Many national and international corporate houses still seek his opinion as a Diamond Business Consultant. His versatile personality has even touched the sphere of healthcare sector and Alternative medicine. He has been involved with the technical teams to develop various healthcare products he has also authored numerous articles related to Alternative medicine. He has been involved with the marketing systems of Google, Yahoo and other search engines to achieve the maximum effectiveness of their campaigns. In Healthcare sector his expertise lies in Spa Management and Development, Product Conceptualization, Web-based marketing of Health Related Products
