The document discusses a panel session at a CII-NFCG conference in Chennai on the rights and responsibilities of institutional investors. The panel, moderated by Amit Tandon, discussed whether institutional investors would fund a new enterprise proposed by Ramalinga Raju of Satyam, given his role in the Satyam accounting scandal. JN Gupta said he would not fund Raju, while Serge Devieux said one should not be punished forever for a mistake. Amit Tandon gave the example of potentially funding a life-sciences company led by Raju.

1. What if Satyam’s
Ramalinga Raju…
Came to you for funding his next
enterprise

3. Context
• This was one of the questions from the
audience, at the CII-NFCG Conference, held
recently in Chennai.
• The session was on Rights and Responsibility
of Institutional Investors.

4. Panel
Session moderator was Amit Tandon, Managing
Director, Institutional Investor Advisory Services
India Ltd.
Panel members were:
• Dr V R Narasimhan, Chief Regulations, National
Stock Exchange of India Ltd
• Serge Devieux, Regional Director- IFC South
Asia, IFC, World Bank Group
• J N Gupta, Founder and Managing
Director, Stakeholders Empowerment Services

5. No
• The first answer was from Gupta. He began by
saying that the question is hypothetical.

6. Why not
• The second answer was from Devieux. He said
that one should not be punished forever, for a
mistake. (00:20)

7. Second innings
• The third answer was from Tandon. He gave
the example of a life-sciences company. (1:14)

8. Why no
• Gupta had something more to say, as a reason
for his answer. He drew a distinction between
failing in business versus ‘failing you’. (2:20)

9. What’s your view?