I am sure by now all of you know about the Satyam scam and how the companies management was involved in a massive $2 billion scam. But one of the most important thing which this complete scam has brought out is the dwindling margins on the IT Services Business. Satyam as per Raju only operated [...]
Fraud-felled Satyam Computer Services Ltd. is being called “India’s Enron,” after the head of the Indian out-sourcing giant admitted this week he had cooked the books to the tune of about $1 billion, leaving the company with almost no cash. Enron went bust and filed for Chapter 11. Its trustee eventually recovered billions of dollars [...]
Raju Raju sat on the wall
Raju Raju had a great fall
Balance sheet died
Shareholders cried
Raju Raju made a fraud
Raju Raju Yes baba
Cheating us No baba
Telling Lies No baba
Open the balance sheet
HA HA HA
Raju’s New Movie – Satyam Shivam Scandalam
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 [...]
This is by far Largest Corporate Scam in India Inc. Read more ...
0
- 
Loading ...