No more Income Tax exemption for public listed IT companies. This will give power to Income Tax Department to audit the balance sheet for Income and Profit of the company. This scam could not have happened at all.
Re: Income Tax exemption need to be removed
by Manoj M on Jan 09, 2009 10:15 AM
IT exemptions are only for the export part of the earnings of IT cos. These are available to all exporters, EOUs, etc. So why are you complaining?
As the author rightly pointed out, the problem starts because company revenues suddenly drop and Management fudges some numbers to make up for revenue so as to keep share-holders happy and prevent stock from coming down. Then they start doing it more frequently and fudge bigger next time and this keeps increasing. One lie to cover another lie until it becomes a big bubble and then it bursts.Reality is , it is very hard to have good financial results all the time, as people think.People should know that just as a man grows and then slowly dies, a company cannot keep growing forever and share price cannot rise forever.Companies managed by wise people will never get into such mess and lies.
becasue he admitted that he showed fraud sheet of balance. But he exactly didnot eaten any money.however I dont say he has not done wrong, how about our own netas specially congressi , eating since 1947 and still their appetite is never satisfied. they are biggest terror, threat to country's integrety. they are rapist rape country's economy, pride.anyboyd ever admit from their part?
As the author rightly pointed out, the problem starts because company revenues suddenly drop and Management fudges some numbers to make up for revenue so as to keep share-holders happy and prevent stock from coming down. Then they start doing it more frequently and fudge bigger next time and this keeps increasing. One lie to cover another lie until it becomes a big bubble and then it bursts.Reality is , it is very hard to have good financial results all the time, as people think.People should know that just as a man grows and then slowly dies, a company cannot keep growing forever and share price cannot rise forever.Companies managed by wise people will never get into such mess and lies.
With my confidence in Indian Judicial system I am sure Mr Raju will escape without any major punishment. He has ensured that with the magnitide of this scam. If this fraud was only of some lakhs he would have been arrested. Now he is absolutly safe and I am sure he will not leave India since he will be more safe here than anywhere in this world with all this scam. The drama of arrest and bail will go on and as countless other corporate thugs (More dangerous than politicians) he too will go scott free. There were lot of hues and cries in media after Mumbai terror attacks like Enough is Enough and media and lot of public (The real donkeys) where crying and lighting candles (meaningless gesture) that these corporate guys should replace the politicians. Think of that day when this thugs will start ruling us. The moral of this story its these kind of Rajus who becomes Gentleman in this country.
Re: Raju Ban Gaya Gentleman
by breaking on Jan 09, 2009 01:41 AM
Your comments are good ....but when you talk about bby blasts, you became very insensitive. I feel very offending to read your statement "public (The real donkeys) where crying and lighting candles (meaningless gesture)"
