minilien.com - 1/7/2009
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Hyderabad: Satyam Computer Services founder chairman B. Ramalinga Raju resigned from the IT major's board after admitting a fraud to the tune of Rs 4000 crore ($823 million) in the balance sheet of the company.
Latest Satyam News, Satyam Computers chief Ramalinga Raju resigns
6url.com 1/7/2009 — Hyderabad: Satyam Computer Services founder chairman B. Ramalinga Raju resigned from the IT major's board after admitting a fraud to the tune of Rs 4000 crore ($823 million) in the balance sheet of the company. Chairman, B. Ramalinga Raju and Managing Director, B. Rama Raju, have resigned.
Truth About Satyam Computer Services
sharescity.com 1/7/2009 — Online Stock Trading - The Truth According to Satyam Computer Services
Another day another scandal. Satyam is the Sanskrit word for Truth. The Chairman of Satyam Computer Services, Ramalinga Raju, obviously got his definition of truth from that other organ of undiluted truth, the Russian ...
From the desk of B. Ramalinga Raju
ftalphaville.ft.com 1/8/2009 — The chairman of Satyam Computer Services, which ranks as India's fourth-largest software operation, has fessed up to years of book-cooking. Shares in the company crashed 80 per cent on Wednesday, taking the wider Indian stock market down 7 per ...
Lunch Wrap —
FT Alphaville
On FT Alphaville Wednesday morning,
- (Fed)ing the masses.
- Drop your shorts.
- Santander says adios to €10 bn in 2008.
- Lets do the bailout creep.
- From the desk of B. Ramalinga Raju.
- "We're like the Brady bunch".
- On depressions and the return of macro volatility.
- A case of ...
Satyam (NYSE:SAY): The Short Story - First Global India —
Notable Calls
First Global India has a nice comment on SAY this morning: Let’s say one thing upfront: we think Ramalinga Raju is an amateur. He is not the first promoter in the world to have cooked the books. Nor will he be the last. But the weird mea culpa letter is something that is bizarre to say the ...
Financial Scandal at Outsourcing Company Rattles Rivals —
DealBook
Ramalinga Raju was contrite, sort of.
In an emotionally charged four-and-a-half page letter, Mr. Raju, the chairman and co-founder of one of India's largest outsourcing companies, described to his board on Wednesday how a small discrepancy had mushroomed into one of the biggest scandals in ...
$1bn fraud at India IT group —
FT Alphaville
The head of one of India’s biggest outsourcing groups has confessed to fixing the company’s books in a $1bn fraud described as the country’s “Enron”, reports the FT. B. Ramalinga Raju, chairman and chief executive of Satyam Computer Services, which is also listed in the US, resigned Wednesday ...
Indian Enron —
Bear Mountain Bull
From MarketWatch:
B. Ramalinga Raju, Satyam’s chairman, said the balance sheet as of Sept. 30 had inflated non-existing cash and bank balances of 50.40 billion rupees ($1.04 billion), understated a liability of 12.3 billion rupees, and overstated debtors’ position of 4.9 billion ...
Satyam: 'India's Enron' —
BloggingStocks
Satyam Computer Services (NYSE: SAY ) has not opened for trading today but it was down 91% in "pre-market." When you hear why, you'll realize that Satyam could be India's version of Enron. There were glimmers of trouble a few weeks ago when Satyam's chairman, Ramalinga Raju, unilaterally ...
Satyam: 'India's Enron' —
BloggingStocks
Satyam Computer Services (NYSE: SAY ) has not opened for trading today but it was down 91% in "pre-market." When you hear why, you'll realize that Satyam could be India's version of Enron. There were glimmers of trouble a few weeks ago when Satyam's chairman, Ramalinga Raju, unilaterally ...
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