Satyam Scam – Separating truth from lies »

The scam at Satyam Computer Services, the fourth largest company in India’s much showcased and fiscally pampered information technology (IT) industry, has had an unusual trajectory. It began with a successful effort on the part of investors to thwart an attempt by the minority-shareholding promoters to use the firm’s cash reserves to buy out two [...]

Raju spends time in jail reading books, newspapers »

Disgraced former chairman of Satyam Computers, B Ramalinga Raju spent his fourth day in the Chanchalguda Central prison reading books, news magazines and newspapers. Raju has been shifted from the regular admission block to the nearby barrack where he is leading a quite life and is remained to himself, a senior prison official told PTI. Besides his [...]

Govt plans Rs 2000-crore package for Satyam »

The Indian Government has decided to take direct action to remis looking at a salary bailout for the 53,000 Satyam Computer Services employees. A Rs 2,000 crore package is under consideration to ensure that Satyam employees get their salary on time after it the new board said that they are looking for funds. It’s learnt that the [...]

Scam For Dummies »

[/caption] Ref : http://fahadsaidso.wordpress.com/2009/01/10/raju-made-the-difference/

Sensex may shrug off Satyam jolt, rebound »

A study of how the US stock markets performed in the aftermath of similar scandals in that country shows that share prices usually regain lost ground within a week of the initial shock. Investors rattled by the disclosure of an accounting fraud at Satyam Computer Services Ltd and the subsequent tumble in Indian equity prices could [...]

Satyam scam not the first involving IT companies »

DSQ Software, Pentasoft, Pentamedia had collapsed amid scandals over insider trading, malpractices The scam involving Satyam Computer Services Ltd isn’t the first to to strike India’s software industry, although the scale of the accounting fraud to which chairman B. Ramalinga Raju has confessed may be unprecedented for the country. In the past decade, companies such as DSQ [...]

Satyam Scam! B Ramalinga Raju’s Confession Letter To Board of Satyam Computer »

It is with deep regret and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice: 1. The Balance Sheet carries as of September 30, 2008, a) Inflated (non-existent) cash and bank balances of Rs 5,040 crore (as against Rs 5,361 crore reflected in [...]

India Economic Summit 2008 – B. Ramalinga Raju »