| Re: Satyam's Foul Play -
January 8th, 2009
Satyam, the fourth largest Indian IT company, with an employee strength of around 53,000 people, could have had a better story to tell, had not the promoters indulged into accounting malpractices and financial manipulations.
This fact came to light today, when the Satyam chairman and promoter, Mr. Ramalinga Raju, in his resignation letter to the capital market fraternity, brought to fore the mammoth scale at which the company has been manipulating its financial numbers over past eight years. It attributed all its recent actions as attempts to salvage the company from imminent fate. |