The quick and timely outbursts of the right and awake people checked Raju from diverting funds home.
This was an attempted economic aatankwaad = an acme of white collar crime !
Worst than Ponzi.
Government was snoring all the time.
This episode is indeed eye-opening for the investors.
Not only the entire board must be dismissed, but also the management should be handed over to a joint consortium of TCS, Wipro and Infosys.
Failure on the part of the government to penalize Raju and his gang would only encourage them to find alternative means to siphon off funds in whatever possible manner they can.
Satyam is no longer safe with the present management particularly the Board of Directors.
Jaago investors jaago !
Call for an extraordinary AGM and sack the present board.
Re: Wonder how can a whole board get shamelessly dishonest !
by chanakya maurya on Dec 22, 2008 02:28 PM
The vital question is: "Who does the company belong to?"
The shareholders, or is it the personal property of Raju ?
If it belongs to the shareholders then who is there to protect them from this kind of aatankwaad ?
every one who come across satyam's name know how rotten it is.. entirely a rotten company...if included in the list of briraby countries list its in the Top 10 list if not in TOP1... their id's r available(e-mail, entry cards...all for sale)...B1's, H1's everything is on sale there forget about jobs
VOTE THEM OUT OF THE SATYAM BOARD! VOTE THEM OUT OF THE SATYAM BOARD! VOTE THEM OUT OF THE SATYAM BOARD! VOTE THEM OUT OF THE SATYAM BOARD! ....this will keep satyam healthy
Raju has 7% stake in Satyam. He has 35% stake in Maytas. Remaining major stake in Maytas is held by his sons. Now Satyam has 1.3 Billion USD cash as profit. Since he has only 7%, he cannot enjoy the profit. For a publicly traded company, the stockholders are FIIs, Mutual Funds etc...Based on their percentage of holdings, they get a director seat. Raju tried to cash in (i.e. acquire) 1.7 Billion USD from Satyam. Buy buying Maytas, he is passing satyam's money to Maytas (to his sons & to him as he has 35%). Now the 1.7Billion USD profit by Satyam is his money. Shareholders will get none (except middle finger). These rajulu..seethulu...redddiesss..are like this. For them, there is nothing called law and they cannot follow a single law in their life
In my opinion no one should go for the Reliance Money Demat A/C because they are cheating the investors. They say that they only charge 1 paisa as brokerage but on the other hand they had increased their fees to more than twice in just 1 year time e.g. They had increased the Annual AMC fees from Rs. 50 to Rs. 200. Again from 1st Jan, 2009 they are increasing the cost of their Limit Card by steep 150%. ie. presently it is Rs. 500 upto 5 Lac trading but they are making it to Rs. 500 for just 2 Lac trading. Moreover the speed of their online trading portal is deadly slow when you actually need it. It is my suggestion to go for another Online Trading A/C because there are many good choices.
If you intend to pay this much then why to go for Reliance Money. So obviously Reliance Money is not good, right choice.
Why Union Corporate Affairs Minister Prem Chand Gupta takes 3 weeks to get a report from the ROC about Satyam. Today everything on Online at ROC. till 3 weeks time to negotiate with RamLingRaju by sonia . we cannot change the corrupted politicians in India.
