Thursday 8 January 2009

Satyam- A BIG Asatyam (Lie)

Satyam, literally 'the truth'.... and now a BIG lie!

In one of the most shocking revelations of the century, this is the letter written by Mr. Raju, Chairman, Satyam.

[Taken from livemint.com ]

View the article here.

To read in PDF format, click here.

I wonder what prompted him to come out with it now, after so many years.

I'll have to read and find out, and when I do, I'll share it here... Till then, pour in your reactions and comments...








6 comments:

Tushar Mangl said...

It is not that he alone is guilty.
What is shocking is the convenience of many reputable people of authority like that are likely to be involved like the auditors or the bankers or the directors.

Akansha Agrawal said...

@Tushar
I agree... and only a full scale probe will reveal all details, but will such a probe ever take place?

Chriz said...

7 years in prison.. 7000 +crore swindled..

man every firm does that.. R raju just couldnt handle it and fell of the cliff..

a few of my cousins are working in satyam.. they are more worried than ever..

and hexaware is next in line...

Akansha Agrawal said...

@Chriz
Well that is my question... What made him reach the edge? And that too, when economies are at an all time low and people are really afraid of investing in the IT sector... or because of it?

Everybody in the IT sector is facing these issues... there's no job security! No work either...

Chriz said...

@akansha
the breaking point which you cant handle when you have suspense accounts more than the share value of ten investors... The cfo is also a big fraud in this case..

next in the line of fire is CHIEF finance/fraud OFFICER

Unknown!!! said...

its a big scam involving..key politicians...like YSR etc..
..this will definitely have an impact on congress in the coming elections....
had the maytas takeover been successful this fraud wld have been buried forever...cos of its failure..he had no option but to come out in public..most of the real estate companies involve in these fraudulent acts...thats y we see a lot of real estate stocks fell badly following satyam.