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Posted by IT professional on Jan 08,2009 03:33 AM
A Suicide note That was exactly what I thought when I first read it. The way he has distanced his family members from this, the way he has distanced his other colleagues – he has completely distanced it in every sense of the word. It is a very strange letter. It is almost as if the guy is sitting there and saying – okay, I cannot handle the disgrace and the pressure any more and write this and I go – that was the real message that I was getting when I was reading this letter. I don’t know what the real reasons were for this and what was going through his mind. The tone and tenor of the letter is really like a suicide note – it is not just a confessional. What’s in a name?" exclaimed Shakespeare. How true he was. "Satyam", a Sanskrit word, means truth. Ironically, there is not truth attached to the Satyam. Caveat emptor - buyer beware - can never have a better explanation than in situations like these
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Posted by ravi on Jan 07,2009 21:54 PM
How is SEBI or the Registrar of Companies answerable to this baffles me. The company financial records are scrutinized by independent auditors annually only after which the company balance sheets are declared. SEBI can only be pro-active if it gets advance information, which are normally whistle blowers from the company. The lapse here is on the part of PWC who audited the firm.
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Posted by aurovind on Jan 07,2009 19:12 PM
in view of the current facts the maytas takeover would have been the perfect option and all shareholders would have benefitted from it. the reason why ramalinga raju decieded to acquire maytas is now perfectly clear. there was no other way to merge the gap in the financials of satyam. he had the best interests of satyam in mind. but, what i dont understand is why he decieded to divulge the facts right now when already everybody is gunning for him. satyam scrip was 188/- in the morning. his resignation was announced during market hours causing the scrip to fall to 35/- in a space of a minute. the timing is very suspicious and someone somewhere has made a huge profit today
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Posted by N.R. Ramachandra on Jan 07,2009 18:48 PM
It is highly surprising to learn about the fraud.
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Posted by jaihindbrahmin on Jan 07,2009 18:36 PM
Andhrites have indulged in false documents etc in US to get Green card, jobs etc during y2k time now, Satyam another Andhra company has been busted - we need more transparency in accts and audits Satyam used to represent India in Davos, world economic forum - satyam used to lobby with Hillary clinton for H1B visas etc - this wil be a deterrent sure internationally we need to investigate how other politicians like DMK, AIDMk et al and how they have built such huge wealth
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