Changing Board members, hai Kamath & Deepak Pareekh gave the bank balances letters to Satyam. you mean to say it is a right direction to put such people in board. First Ram Ling Raju getting killed in the hands of Ap Chief Minister Samuel RajSekhar Reddy, like how he killed Moddu Seenu after using to kill Mr Paritala Ravi (oppositio9n MLA)in Jail cell through a cell mate. First you sort out the matter of his life to get the truth what happened. Even Infoysis did the same thing many times, but he able to manage to keep back in order. bring infoysis naryana murty to brain map and see either correct or not. First you should hang the present corrupt politicians & burocrates then everything will come to order. Investor in India is treated like gamblers, so genuine investor never invest, the reason transaction fee, & service charges charged by the finance ministry. That itself shows how finance minister chidambaram himself involved in frauds with Financial institutions.
As far as Satyam is concerned the govt. initiative seems to be in the right direction for putting back the company on the rails. However the larger question remains .How come fraud of such magnitude could be committed in spite of the numerous checks and balances of our corporate world? And how wide is this malady ? Is it an isolated incident or the malady is wider ? Wider malady could be present and to be traced to the IT explosion about a decade ago which resulted in the rat race of the State Govts., especially among the southern states. Karnataka marched clear ahead of other southern states like TN and AP and Bangalore became India's IT capital. In the ensuing inter-state rivalry, there were mushrooming of IT companies all over the country of all hues --good, bad and ugly. Although in Karnataka IT grew by and large without political interference, however in AP , first the TDP chief, Chandrababu Naidu followed by YSR Reddy allowed themselves to be manipulated by the unscrupulous elements blindly in the IT race to outpace Karnataka. Under these circumstances there is likelihood of presence of more SATYAMs , especially in AP. Not just the IT companies, more SATYAMs could be lurking in even companies in Pharma and Bio-Tech Industries in AP and a thorough scanning is needed of all such companies in the state of Andhra Pradesh.
It is the shareholders' money who invest in the Public Ltd. companies. Business Class airfare is 3 times the Economy Class airfare. So when the management use economy class travel for personal travel, then why should they not use Economy Class Travel for Official purpose? They should treat the expenditures of Public Ltd. company as own. If economy class to US costs Rs 50,000 then Rs 1.5 lakhs for business class. And Rs 2 lakhs for first class. All the listed companies in stock exchange must make it mandatory for their management to fly only by Economy class cos it is shareholders’ money. It is said that Azim Premji flies by Economy Class.
Satyam fiasco is a blow for many. A few years ago the former CM of AP Chandrababu, Bill Clinton and Ramlinga Raju shared the same podium in Hyderabad. Chandrabau was blowing his own trumpet, Clinton was getting nice blow job from Monica Lewinski, Raju was simply blowing the investers money. The result is the double blow on the employees and investers. When the whistle blower Mr. Sreedharan raised valid objections on Maytas dealing for Hyd Metro project his objections were blown away by the present govt. This govt also deserves to be blown away the ensuing storm due to Satyam collapse. S.S. Rajguru
Half of the political corruption will be eliminated if all the land revenue records are made public. As long as the land serves as the safe heaven to hide unlimited amount of wealth, politicians will remain corrupt. There is no way to regulate a corrupt politician unless his safe heaven to conceal his wealth is eliminated from the picture. Every block of the land survey number should be available on the Internet along with the owner's name and his total wealth information. No private organization should be allowed to own the land as these politicians can create 100s of companies in a single day and transfer the ownership of his lands.
This should be a peoples movement as no politician will encourage this idea. In fact, they try to destroy this idea as early as possible. The political corruption should be contained as soon as possible as these politicians are pushing the fate of 1 Billion people into slavery.
Just as Satyam's top management was dominated by people from Raju Caste, Infosys is dominated by people from Brahmin community. Surely, there must be something fishy going on which is why they want to keep it within the brotherhood?
I have a final solution for this problem. The Government should start a "National IT Corporation" and all IT companies should be made subsidiaries of this. This will benefit everyone. The wealth generated by IT business will flow to the nation instead of to some individuals. The jobs of all employees will become permanent. Whether they work or not, they will be able to draw fat salaries. Best of all, the employees can generate further wealth by looking for extra income.
THEY ARE ALSO FRAUDS!!! HOW CAN THESE PEOPLE SHOW 40% WITH 25 DOLLARS/HOUR AVERAGE BILLING 56% UTLIZATION 5 LAKH AVERAGE SALARY AND ALL THE NEW BUILDINGS AND FACILITIES THEY HAVE!!!
Re: INVESTIGATE INFOSYS, TCS, WIPRO!!!!
by Prem Mohan on Jan 11, 2009 06:23 PM
Please explain in more detail. Your message is too cryptic for ordinary mortals. Also, please don't type in all caps. It is difficult to read.