Fall of Satyam has made many think about the smooth moving things around with a caution. It not questioned the corporate governance in the Indian corporate world. Beyond that it made many corporate entities come out in front and speak out.
 
Take the case of Wipro. It went out and made it public that it was black listed in 2007, by the World Bank, one of the key IT accounts in the world. The ramification was a question mark on the credentials of the company. However the markets took it more neutrally than expected. Thanks to the first shock they got from Satyam. They were more prepared for such a disclosure from Wipro than even.
 
Infosys also went ahead and disclosed few new things, fortunately nothing adverse from shareholders' point of view. The most prominent was the details of cash. The company precisely told the shareholders the extent of cash in each bank and the movement of cash from one bank to the other. Again courtesy Satyam, the markets were enlightened about the fact the public sector banks were preferred by the technology behemoth than the 'fast moving private sector banks'. The worst was that the company simply dumped ICICI Bank, if we keep aside a small sum it has parked with ICICI Bank.
 
The results season is expected to bring many things to fore. Many of the corporates are expected to show up and inform the markets about many things – both pleasant and unpleasant. RBI has also asked some of the not routine pieces of information from banks such as exposure to Satyam. One may come across some more information on various fronts from the banking sector. As of now, the non performing assets were going down for last few years. But things may change now, as we complete more than three quarters in the business of recession. In other words, it is the time we book NPA.
 
So the investors all in all should prepare themselves for some of the surprises on the disclosure front. After all it is bear market now, or in other words, it is the time to tell the investors what they have with them.