2 incidents we will take who was arrested. Binny Limited ( East India Company ) Oldest Textile Company in the world. Taken over by MGR with his illegal money in the benami name of his boot liquer Udayar. MGR went to Coma, then it became Udayar personal property. It had 700 acres in the Chennai city alone, housing sites at Boat Club, Parry corner etc., prime offices at beach Road. This Benami got all into his family name. All employee were checked out through force. Even some were murdered, some were threaten. All Share holders wiped out. Public money and illegal money became personal asset of Udayar family. Now the Valuation is 20000 crores. Ramachandra Medical Trut: 225 Acres of Land owners was evicted at Porur, and taken be force by MGR Through benami Udayar a street rowdy. MGR was hospitalized & went to Coma & dead. That trust was with Udayar family. Karunandhi while came to power in 1989 udayar ran away to pondy & squared up with him by giving money & 50 acres on benami name. After Udayar death the Ramchandra Medical college full of
Re: in India if you want jail, so many to be done
by Ananda Raj on Jan 10, 2009 11:27 AM Permalink
Media glorified Take Over Prince Raja Rathinam Plillai took over many companies in crores and crores on behalf of Corrupt Queen.As relationship sour, he disappeared from India even today. What is the follow up no one knew. It was the biggest scandal. How the unknown ordinary youth got all the money to take over many companies? Now who hold all the shares? Why he disappeared from India? Where he is now? Why the govt not take any efforts to trace him?
Yet another day & the reality is staring at us! Yes, Satyam is not a bad dream & we all feel sick in the pit of the stomach, like when our favourite loses middle stump, first ball!
People succumb to greed. Gandhiji's words are ever true, can be first guidance for corporate governace & framed in all Board-rooms-there is everything in this world to meet our needs, but not the greed!
We all know, the people who stand by us are the poor in the end! The child will love the parent at least till adolescence! Then, when they also get old & remember their sacrifices when their children go through their phases!
No harm in being ambitious, but let the riches accrue through fair means! Businessmen cannot be angels, but can thrive & be appreciated to a great extent. Tatas are an example! Gates & Buffet are inspirations! The former through marrying Melinda!
We are all manipulated, but we should draw a line! If you pursue money at all costs, you will attract that mob who will cling on to you & play on all your weakness! Promises know no bounds and one is deserted at the sign of first trouble.
Raju had enough going for him, but why knowingly fall into a trap of no return with eyes wide open! It is a lesson for us all. Happiness comes from within, from having good people around & earning a decent living. Not by making money from thin air like what Raju & Wall Street did!
Through Raju, we have again hit world head-lines for the wrong reasons!
This is not hapening first time in India... Especially in the IT industry..the mile stones are... 1. Pentafour Software... 2. DSQ software... 3..Satyam... 4. ??????
This is not happened over night..But has happened over a period of years...What is the SEBI role..does it have any control over it ?. or mere Don't have any mecanism to understand ? or knowingly ignored..or kick off...Need CBI intervention ...at least in the interest of the General public and the Smal hosehold saving of retail investor..those who get burns their finger by doing investments every time...
Re: What is the Role and purpose of SEBI existance ?
by Gopi on Jan 12, 2009 11:24 PM Permalink
This is not the first time in India .. Especially in all our cities .. the milestones are... 1. Rapes all over the country 2. Strikes at the drop of a hat 3. Indiscipline all over 4. Mobocracy ruling every where 5. Innocents crucified..??
This is not happened over night..But has happened over a period of years...What is the POLICE role..does it have any control over it ?. or mere Don't have any mecanism to understand ? or knowingly ignored..or kick off...Need CBI intervention ...at least in the interest of the General public and the suffering innocents..those who get burns their finger by living every day...
This is the time to support this IT company, we must not throw stones at Satyam. The truth has been revealed and confession itself is a way of repenting for what has been done. Let the media not create a panic and attack the Satyam Corporate and dismaantle it . It has a 53000 strong staff who are earning bread and butter. They are also providing solutions to global corporates and small enterprises. We must support the people in Satyam by not creating a backlash. The company has provided quality service for the last 20 years. Hope it will keep its tradition. The way forward is to create an atmosphere of positive constructive stratgy to continue the business. The law will takes its own course. Let the media understand that balloning this issue will spoil IT sector image and India's global prestige as well. So please my dear media keep your cool.Report only that is relevant in short sentences.
Re: Better to support the organisation
by parveen baig on Jan 09, 2009 03:16 PM Permalink
You can support the company but cannot pardon the culprit. Otherwise it will appear as if you commit whatever crime you want and then a write heart feel sorry letter to go scot free. By not showing how serious is the issue we will sent wrong signal to investor who has seen their life saving go in fume in one day. And it also important to make sure that satyam is not going down because govt. even now is taking bold step. Stop balming media for everything.
Re: Better to support the organisation
by Columbus on Jan 08, 2009 07:07 PM Permalink
100% Perfect.. But Dear friend, for foreign funded Indian Media ..this is one of the best time , like 26/11 to make more money .. and , the least can be expected from them , when it comes to National Responsibility..
Re: Re: Better to support the organisation
by CHINMAY SAWAI on Jan 08, 2009 10:10 PM Permalink
agreed Sir,but cant help these 'breaking new' thirsty stupid channels, Satyam had created a brand name,we should support it.
Satyam Computer Services former Chairman B Ramalinga Raju must be congratulated for his courageous open declaration of his unfair trade practices and violations.
Not that all others are clean, honest, moral, follow laws and regulation.
It was great unfortunate, all over world financial people got undue advantages in the management functions and indulge all sorts of malpractices to fool, not only share holders, even their mangements, workers, customers. They force others to adopt malpractices, immoral things, corrupt the good systems, criminal acts which are ways to make company for profits. None can resist their attitude for their survival in that system.
Can any one claim , Controller of Audit General of India do the auditing functions properly in the govt depts?
Everywhere Finance people over riding others by malpractices to win the managements. This is primary one for frauds.
Re: Satyam Computer Services former Chairman B Ramalinga Raju
by Rohit Singh on Jan 08, 2009 07:00 PM Permalink
I believe there are many organization and people who are doing these illegal practice. Thanks to Raju for his bold acceptance. There are many people in our country who have been doing all this kind wrong practice but still not caught. Hope now government takes necessary action against all bad process and activity in Private organization..I would like to request all the people to share your information if any organization is doing this kind of all negative activity.. Now the question is there any IT company in line of Satyam?
Re: Satyam Computer Services former Chairman B Ramalinga Raju
by krishna on Jan 12, 2009 12:42 AM Permalink
You are right. Ramalinga Raju is the only person who accepted his mistake and maintained his respect. Still we should respect him.. he is the founder of satyam computers, that was benifited by 53000 employees..
Mr. Damaodaran former SEBI Chief update, Retired with wealth of SEBI information. And now lending such Government Information as Financial Advisor For ING Asia Pacific and Mahindra & Mahindra Now being paid Crores & Crores. As long as Govt. wealth could be shared through the Doors of people like Damodaran more and more SATHYAM will be undetected and DHARMA and SATHYA would be buried. He has left his imprints in UTI ,IDBI & SEBI. ATLEAST now will the ministry awake and the other sincere IAS / IPS officers who serve the nation will prevent such things in future. WHAT WILL HAPPEN ? 1) If Former Defence Secretary joins Pakistan ? Terrrorism in all parts of India (more 26/11) 2) If Former Finance Secretary joins ? Turmoil in our Economy & Finance 3) If former Foreign / Home Secretary ? Exposing the National Secrets denied even to Citizens / Media. 4) If former SEBI Chairman – Financial Terrorism ? – More Asathyam . .
Educated indians think a corruption is corruption only if it's committed by politicians and govt employees. But the fact is 99% of the business people (who are being treated as demi god these days) are corrupted. Despite govt giving so many benefits to them, these people are so greedy,To maximise their profit they are ready to take any illegal means.
Re: Businessmen should be treated more strictly by Govt Agencies
by mailme alladin on Jan 08, 2009 06:39 PM Permalink
Govt. should stop all the soaps to them, until more honesty is shown by Indian corporates.
Conman Raju deserves a life term without parole... His chargesheet should read...
1) Conning investors of their hard earned monies.. 2) Bringing shame to the IT industry of India which is acknowledged as one of the best in the world.. 3) Destroying the dreams and demotivation of thousands of employees.. 4) Willfully partnering with and conniving to cheat money out of Indian citizens.. 5) Causing untold mental suffering to lakhs of Indian citizens..
It is time that Indians stomp out such cheaters who bring shame on our country...
Conman Raju is known to be very well politically connected.... We should ensure that he is UNABLE to utilise his political connections and should be shown NO LENIENCY...
While there are thousands of innocent people rotting in the Indian jails due to lack of money to hire a proper lawyer... The Indian Government should ensure that Conman Raju is sentenced to LIFE IN PRISON and should NOT BOW DOWN TO his political connections...
It would be disgusting to see Conman Raju walk away with a light sentence of 10 years..!!!!
Re: 10 years..????!!!!!
by CHINMAY SAWAI on Jan 08, 2009 10:14 PM Permalink
cool it :) i pray raju do not read your post :)btw,this one is really great:"Causing untold mental suffering to lakhs of Indian citizens"
Re: 10 years..????!!!!!
by Kishore on Jan 08, 2009 11:15 PM Permalink
Dear Singh,
Raju is merely a trustee of the combined greed of our society. Why point fingers at him. Lets look into our own selves, this entire revelation shows our systems are hollow and fuelled by mere greed and made possible due to sheer incompetancy ..lets not point fingers at one person
