Re: Yesterday and today
by Vikrant Dhoke on Jan 11, 2009 10:34 PM Permalink
Big corporates will be soon sponsoring service apartments on jail facilities for "A" class prisoners. AC, cable TV etc... there may be some more chairpersons in line.
Re: Re: Satyam-TrueLies
by just passing on Jan 11, 2009 11:33 PM Permalink
Non-political:
Satyam (Ramalinga Raju) Nagarjuna Finance (KS Raju) Global Trust Bank Charminar Bank Match Fixing (Azharuddin) Child Trafficking (Lakireddy Bali Reddy) US Jackpot Scam Fake CVs Fake Degrees Fraud Visas
Re: Satyam-TrueLies
by Gopal Gandikota on Jan 11, 2009 11:23 PM Permalink
Rash , PV narasimha rao did for congress party .those are not for his personnel.
Satyam created 53,000 jobs.he also did for people.
Azharuddin is a scape goat . what about prabhakar,Kapil and lot of others why didnt u mentioned those names?
so it is proven AP are good , always they are scape goats.
What About Lalu ,Sharad pawar,Sonia ,rajiv gandhi,chadraswamy ,harshad ,mehta ,Amar singh ,
Good and bad is every where dont generalize with ur stupid statements.
Re: Satyam-TrueLies
by debrispatel on Jan 11, 2009 10:59 PM Permalink
Let us not generalize. There are so many great Telugus . As far as PV Narsimha Rao is concerned...don't blame him for perfecting the "Congress Art" of corruption..he only showed the Northies that he could do what they did and better...!
Re: Re: Satyam-TrueLies
by MITRA on Jan 11, 2009 11:18 PM Permalink
How about Gandhis in Bofors, Mayawati-thousnads of crores in just fifteen years Karunanidhi-Crores of rupees,
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.
Re: SATYAM.........issue
by Pramod Jain on Jan 11, 2009 10:30 PM Permalink
well said Mr. men may go men may come; company remains forever. Lets not blame all the employees who work out there for a mistake done by the superior.
Re: SATYAM.........issue
by alok praveen on Jan 11, 2009 10:37 PM Permalink
My dear friend...most of the good people would have left or will be leaving now after all this...an IT company has nothing but people and brand name ( brand name is already bad because of multiple reasons including World Bank). And why are you dragging government in all this. It is private company right ...performance drive....huh
Re: SATYAM.........issue
by debrispatel on Jan 11, 2009 11:09 PM Permalink
First thing they should do is to get rid of the overly dominated "Telugu management". C'mon - which other public IT company do you see 100's Rajus and Vaddlamanis and Muddlamanis etc...?
Re: Re: SATYAM.........issue
by mahabodhi on Jan 11, 2009 11:24 PM Permalink
First of all sack all Account departments staff , and Govt. should not pump any public money in this company! Many IT companies have reduced salaries of their staff so should Satyam if it wants to survive and all Maytas money siphoned from satyam be confiscated and all assets of Raju and his family be confiscated if this is not possible then let the Satyam be allowed to die a natural death1If Accounts Department was unaware of such siphoning off money and of so called cooked books then its not worthy of etaining!And all must remeber that India has 125 crores population and Satyam 's so called 53 thousand Employees is also myth!it is much less!And that for survival they must work hard and must generate their own money !when they say that they have good It specilaits and order book then why worry do ur job and get money from clients and accordingly run the company with the assitance of newly formed directors!Govt. in any case should not put any public money in this orgnisation!Let Lazzazrt be on the Directorship of the comany!let these new Directors go for Rights issue and collect money and run it if possible!and get back all the money siphoned off by Raju and his family!If Govt. wants to put money to sage guard these Employeees who in their chairman's words were not genarating enough margins then let Govt. first assure all poor Indians Govt. jobs and doles !Let all companies be nationalised!there can be no two systems for one company and one for other loss making companies!and
Re: chiranjeevi
by debrispatel on Jan 11, 2009 11:07 PM Permalink
while I hate generalization of Telugu speaking people, this one - I agree 100%....Chiranjeevi is a fraud who only wants power to safe guard his property and steal more from public !
Re: Re: chiranjeevi
by saratcse on Jan 11, 2009 11:37 PM Permalink
do u know anything abt telugu politics? If u dont.. stop blaming Chiranjeevi. If u know, u cant make such comments. If someone wants to serve the people who has a clean image, v have to give him a chance. Without giving anychance v shudnt tell that he is also like all other politicians..
investigate immediately - dont wait for evidence to wipe out
by readers view on Jan 11, 2009 02:30 PM Permalink | Hide replies
care with these crooks
by readers view on Jan 11, 2009 10:28 AM Permalink | Hide replies
dont wait till 29th - start investigating now only - care of pol
by readers view on Jan 11, 2009 10:26 AM Permalink | Hide replies
work on sundays also and check cuplrits involved
by readers view on Jan 10, 2009 12:48 AM Permalink
they should check all records immediately work on sundays
by readers view on Jan 10, 2009 12:46 AM Permalink | Hide replies
they should quickly and immediately check all those involved
by readers view on Jan 10, 2009 12:41 AM Permalink | Hide replies
they should not wait and immediately they should also check the auditors concern and high officials concern, these two people, main person and his brother should be kept away from anyone trying to pass or extract information from them and they will try to wipe out all evidences then. cm pm and bse nse officials together should be strict with this if not then they also are involved in this scam, it may be the CM or PM or FM or even BSE NSE officials all should support quick investigating..... all investors should be after this. readers put your view on these things now and not just jabber nonsence. those involved should be publicly punished in shame, only then others who are into this will inprove or correct themself. your view now??
Re: act immediately - dont delay -
by Kadam on Jan 11, 2009 09:48 PM Permalink
You will never know the truth behind Satyam Fraud. ! Because there are many involved at all levels and now the "Covert Operation is On! to wipe out the available evidence!
This is absued, when the whole world is under recession only Indian IT Companies show increase in revenure quater after quarter. In addotion the salary figures of teh staff are also being incresed may be marginally. When the rest of the industries are paying salary at much lower level, why salaries of these IT guys are manifold than that of their conuterpart. The CEOs count if crores.! Whah!. all at the cost of Banks. Unless these companies come tom terms with the reality and reduce the salary burden on the companies, most of these IT giants will fall one by one. Instead of standing on teh false prestige, it is better to admit teh reality and lead a simple living in this recession. Fuinny, the life stye of IT guys are not in commensurae with the recession trend. In USA when there is recession, the unemplyment tall mounts, where as in India, the emplyment goes on and so a s salaries. In reality they are not emtitled to salary of not more than 50 % of what they pay today! Look at the profitability of Satyam , if the salary is reduced by 50 %. They don't need bank loan at all.
Re: Even in rexession, most of IT Companies show increase in Reve
by Samyu NSK on Jan 11, 2009 10:01 PM Permalink
Kadam
All the issue started with Raju proposing to buy out Maytas for 7000 Crore with the cash reserve available in Satyam books. Investors rejected this proposal because Maytas was valued at an exorbitant rate.
Initially its Raju who proposed it, but now the same Raju says this cash reserve does not exist, and it’s a Non-Existent Profit
The real hidden truth is Raju has looted Satyam company's money and diverted it to Maytas and used it for paying AP politicians to get all the orders for Maytas. Now when he was forced to show actual balance , there is no place for him to hide.
Raju the founder of Satyam was holding only 8% of Satyam shares he did not had any right over the company beyond this 8%, so he wanted to loot the company before someone else takes it over and he did it.
Re: Re: Even in rexession, most of IT Companies show increase in
by mahabodhi on Jan 11, 2009 11:28 PM Permalink
At the present Raju has hardly any holding in Satyam !He had pledged his entire 3.45 holding which haS Bbeen sold by the Pledged company IL &FS!
THE TIME HAS COME TO PROBE INTO THE OPERATIONS OF MANY MORE COMPANIES. BEFORE SOME OTHER COMPANIES RESORT TO SIMILAR SUCH ACT'S as satyam did.
specially in south india IN HYDERABAD there are companies like INTELLI GROUP ASIA, LOCUZ ENTERPRISES SOLUTIONS, CHOICE SOLUTIONS, ANANTH TECHNOLOGIES, PRIVITHI INFO SYSTEMS, AND MANY MORE IN HITECH city madhapur. who claim to big companies. and fraudulently manipulate there balance sheets in order to pool up the working capital from Banks and other financial institutions, besides for companies expansion pro grammes. on whole the directors or C.E.O of the above companies only agenda is by hook or crook become rich in the corporate world and want to see there photo graphs various popular magiznes and receive awards and be in limelight. at the cost of those employees who are no way linked to this faruds and play with there careers. the above companies and similar other companies should be probed by the government and other agency in order to check there creditable.
Re: TIME HAS COME TO PROBE INTO MANY MORE COMAPNIES
by just passing on Jan 11, 2009 09:28 PM Permalink
The companies are holier-than-thou entities, probe the governments.
Re: TIME HAS COME TO PROBE INTO MANY MORE COMAPNIES
by Lopesh S on Jan 11, 2009 09:28 PM Permalink
Pls give more powers to SEBI/BSE/NSE/NSDL/DCA/MCA
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 think trillion times before investing in Indian markets and loosing your pants No one is going to protect your money – Lopesh Kumudha and Suresh
Re: Re: TIME HAS COME TO PROBE INTO MANY MORE COMAPNIES
by just passing on Jan 11, 2009 09:29 PM Permalink
More powers == more interventions, it goes against the ethos of free market capitalism.
most of the business houses does this manupulation in balance sheets for sake of loan from banks. if ckecked maximum will be found guilty ,it is a general practice as satyam did.if talk about politicians % will increase to 99%. all of this people has to be arrested.
I find all 3 r guilt. They breached trust, ethics, law, conduct etc. to country first,investors 2nd & govt last.Add to this the Partner of PWC.
The CFO for company certifies to Board as books are as per the Cos Accounting Standards Rules 2006 & Board gets accounts audited under approved diff ACTs like Cos Act, IT Act, Vat Act etc.The investors adopt in AGM, then filed with authorities like SEBI, MCA, IT Deptt and svailable in public.
How come these events contuine for years, why authourities failed to discover?
Let us now see justice delivery system of India.In USA already suits filed.
Satyam's new board finds out that the company is much more profitable than 3% and declares it as a great discovery of truth. Everybody rejoice and the stock price possibly goes up. The company has new board and CEO. Govt declares law will take it's own course. Raju brothers and CFO out on bail and enjoy life with their loot. The cases drags on for years and everybody forgets. Congress is happy that their back is spared and their shady deals with Raju brothers did not come out. They pat their back for taking immediate(?) action. Everybody forgets this scandal.
Re: This is what will happen...
by just passing on Jan 11, 2009 09:23 PM Permalink
Hope BJP makes this an election issue....all intelligent people will see the truth in this.
Re: This is what will happen...
by Virtual Insider on Jan 11, 2009 09:23 PM Permalink
However, the damage done to the brand name SATYAM will never do any good no matter how many people are put on board..Change of name might bring in some luck...As far as the market is concerned it will take atleast another 5 years for Satyam to redeem its brand status with clients or customers but by then markets wont be the same...
Re: Re: This is what will happen...
by just passing on Jan 11, 2009 09:26 PM Permalink
Let the employees go to hell man, there is deep rooted political conspiracy behind all this and it needs to be milked in the coming elections for votes.
