The day court denied access to Ramalinga Raju for SEBI & SFIO, something looked suspicious in the investigations. To add to it daily statements are made by CB-CID about the relevations of the arrested trio and then they are flatly denied by the lawyers of the accused. Are we in for a staged drama here? … Read more
Shocking disclosures by CEO Ramalinga Raju today. The Letter to the board had disclosures about false revenue and profit figures. Shocking indeed. The facsimile is attached for your reading. (Raju’s Letter)
There is a lot of hype in the Media about the issue of Satyam’s failed buyout plan of Maytas. Talks of Corporate Governance are around and even demand that SEBI/ MCA conduct enquiry on the issue proactively without any need for anybody to complain. Various sections in SEBI’s rulebook are quoted which empower it to … Read more
Satyam Computers announced the buyout of 2 Infrastructure companies – Maytas Infra & Maytas Properties. Both are owned/operated by the sons of Satyam Computer’s Promoter/founder. The reason put forward was diversification in uncertain times. But the market did not like it and they crashed the script’s ADR’s price by almost 55% and as I write … Read more