When i was kid i hv seen a catchline - STEAL A MONEY YOU ARE THEIF STEAL A COUNTRY YOU ARE KIND - nothing chnaged the only this changed is instead of country it is big fraud. What a idea sirji
Except Tatas,Infosys,wipro rest all are chore companies.Ambanis are big chors loot people left and right, they donot pay taxes for gift aeroplanes and yatchs but suck the govermnet.They want to suck the oil companies,telphone companies,power comapnies etc...
While those who committed fraud should be tried under laws, Government should not hurry to use the taxpayers money for the bailout. The fixed assets, like the properties, of the company may be sold to raise the funds necessary. The company can move to rented premises if necessary. Using public money to save private company will be not appropriate.
Re: Bailout should use Satyam's assets
by ANAND on Jan 11, 2009 11:41 PM Permalink
Who is listening U.all are joking.When politions of andhra (both major parties)are part of this scam expecting something like this is like crime
Re: GOD SAVE AMERICA
by Vikas Kumar on Jan 11, 2009 11:37 PM Permalink
And PWC?? Is it an Indian Co?? Let us wait and watch - the hype and hoopla of these US firms will fall flat in next two years.
Re: Re: GOD SAVE AMERICA
by Hardhitter on Jan 11, 2009 11:39 PM Permalink
hahahha WORLD BANK JUST BANNED YOU Guys......hahhahah....LAIR INDIAN.....FRAUD INDIANS....
The whole system seems to be highly corrupt and can be bought so easily. – PM and PC keeps boasting of our corrupt free system. Plus all Our Regulators SEBI/BSE/NSE/NSDL/DCA/MCA do not seem to have enough powers to take action erring companies. We have a grievance against STERLITE INDUSTRIES who Forcibly took away shares acquired thru IPO in 1993. We must have written innumerous complaints to SEBI/BSE/NSE/NSDL/DCA/MCA but in vain. All they do is just forward the complaints and companies ignore and devious in their reply. It appears that company is very confident that SEBI/BSE/NSE /NSDL/DCA/MCA are powerless and cannot do anything. Cleverly they keep changing the registrars from PCS Data to Sharepro to Karvy. Good luck to all investors – Lopesh Kumudha and Suresh
I am Kiran Karnik, one of the new board members. This is not an official statement but my personal view. So, please dont publish it as a board members view but a simple member of this forum. I felt like responding to many commnets, being a regular at this forum
Sathyam will be retored to its status and glory back on track, because we are convinced that no fraud has taken place except misinformation due to high competetion in the IT industry, which has become little too much durty and murky now a days, especially after the financial crisis started.
We are sure that Mr. Raju has not done any criminal or intended corruption but giving misinformation to the public and authorities to tide over the competetion.
The government will pump in as much money as possible, by acquiring a proper share in Sathyam and make it once again a landmark of IT industry in India and AP.
Please dont worry about any job loss or Sathyam being sinking. This is my word.
Re: Kiran Karnik ... Sathyam will be restored to its glory
by ITSpecialist on Jan 11, 2009 11:07 PM Permalink
The funding may not be from Taxpayers money but in the form of investment from other industry houses, individuals and board members may even ask employees to invest as much as possible.
Sathyam has all the resources, infrastructure, contacts, clients and enough work at hand to carry on as usual except ready cash liquidity at hand and this will be provided without any problem. The government also has a lot of foreighn currency reserve, which is mainly earned from IT industry and is willing to return at a time when IT industry is crisis. So, let it be 1000 crores, 10 thousand crores or one lakh crores, will be invested in sathyam with proper share acquisition and company will be made to perform better than earlier, may be making the number 1 in Indian IT companies.
Re: Kiran Karnik ... Sathyam will be restored to its glory
by Telveer on Jan 11, 2009 11:10 PM Permalink
I am Y S Rajasekhar Reddy. I am a regular at this forum. I have nothing to do with this scam. This is my official statement.
Re: Kiran Karnik ... Sathyam will be restored to its glory
by MITRA on Jan 11, 2009 11:12 PM Permalink
this is stupid statement.Mr.Raju the founder of the company himself has confessed about the crime and loss of funds.Your statement is totally misleading.Pl don't cheat the public any more.
Re: Re: Kiran Karnik ... Sathyam will be restored to its glory
by just passing on Jan 11, 2009 11:13 PM Permalink
Impersonation is a crime under India's cyber laws. If you are in India, be prepared for that knock on your door :)
Re: Kiran Karnik ... Sathyam will be restored to its glory
by Pushp Shah on Jan 11, 2009 11:28 PM Permalink
WHY MAKE EVERYBODY ELSE 53000 IN SATYAM FEEL THE STRAIN & PLAY WITH THE REST OF THE EMPLOYEES LIVES. THEY HAVE QUALITY PEOPLE OUT THERE & SAYTAM ALWAYS WAS A GOOD VENDOR. LET BUSINESS GO ON AS USUAL. QUICKLY APPOINT A NEW MANAGEMENT TEAM AT THE TOP, PROXIED BY THE GOVT IF NEEDED. GOVT CAN EASILY GUARANTEE THAT NO SUCH SCAMS WOULD REPEAT EVER. CARRY ON BUSINESS AS USUAL & PUNISH THE CULPRITS AS A SEPARATE ENTITY FROM THE COMPANY SAYTAM ITSELF, WHICH IS MUCH MORE THAN JUST RAJU. SATYAM WAS A REPUTED FIRM NOT ONLY BECAUSE OF ONE MAN'S EFFORT. GET RID OF THE CANCERED PARTS THATS IT & BRING IN BETTER LAWS WRT COMPANY AUDIT & HOW DEEP AUDITORS SHOULD GO INTO COMPANY ACCOUNTS TO DECLARE THAT EVERYTHING IS ALL & WELL. THIS GREAT COMPANY SHOULD RECOVER SOON BECAUSE OF ITS HUGE TALENTED WORKFORCE WHO ACTUALLY THE WORLD LOOKS UP TO & ARE A DEPENDABLE LOT. PLEASE THINK BEFORE WE GO THE ENRON WAY........THAT ULTIMATELY DOES NOT HELP ANYBODY PLUS IT CREATES A BAD IMAGE OF INDIA TO THE WORLD PLUS SO MANY YEARS OF GOOD EFFORT OF THE PEOPLE OF THIS COMPANY & COUNTRY IS LOST UNNECESSARILY FOREVER. LET THAT NOT HAPPEN UNDER ANY CIRCUMSTANCES, AS INFORMATION TECHNOLOGY IS THE BREAD & BUTTER OF INDIA & THE GOVT MUST DO SOMETHING SPECIAL FOR SATYAM TO SURVIVE.
Re: Kiran Karnik ... Sathyam will be restored to its glory
by ANAND on Jan 11, 2009 11:36 PM Permalink
I am satyam employee.i am part of this scam.We diverted money to maytas.We have support of all major political parties.we will get bailout plan from taxpayers money.we will gara all the earning of poor PPLs.We have right of corruption.We will gate clean cheat shortly.This is my official statement.
