I had one of the sad weekends in recent times last week. Also, in a way, this is the most remembered in a positive sense even.
One of my closest pal is blessed with a baby girl and I visited Hyderabad to see the baby. Unfortunately, I couldn't see the baby as she was in an ICU. The whole of the weekend was spent at hospital mostly..
Also, I spent some quality time with another pal, with whom my relation was little severed in the past due to some unhealthy circumstances.
On the whole, many revelations occurred this weekend regarding relationships and their weight in life.
And lastly, I thank almighty to give me this life and friends on whom I can depend on..
Wednesday, January 28, 2009
Wednesday, January 7, 2009
The chronicles of (A)Satyam.
Ramalingaraju resigned from the post of Chairman of Satyam Computers yesterday i.e., 07/01/09 accepting that a scam of 7000 crores is done.
This incident is first of its kind and resulted in the loss of investor's money and faith in the company. It is very hard to earn both of them back any time in near future.
From a layman's perspective, what I understood is that Ramalingaraju inflated the balance sheets of the company to wrongly portray that the company is in profit making and subsequently resulting in high share values and investments from the public. This is all done to evade the shame of accepting that the 4th largest Indian IT firm is in losses and on the brink of closing down.
Also, Ramalingaraju's sons started another company named Maytas and Satyam tried to acquire that company in 2008. This eventually led the government to probe into the financial dealings of Satyam.
Whatever the fate is for Mr. Raju, Indian IT sector itself faced a humiliation with this incident. The year 2009 also has started with a wrong note. Anticipating much worse scenarios in 2009..
This incident is first of its kind and resulted in the loss of investor's money and faith in the company. It is very hard to earn both of them back any time in near future.
From a layman's perspective, what I understood is that Ramalingaraju inflated the balance sheets of the company to wrongly portray that the company is in profit making and subsequently resulting in high share values and investments from the public. This is all done to evade the shame of accepting that the 4th largest Indian IT firm is in losses and on the brink of closing down.
Also, Ramalingaraju's sons started another company named Maytas and Satyam tried to acquire that company in 2008. This eventually led the government to probe into the financial dealings of Satyam.
Whatever the fate is for Mr. Raju, Indian IT sector itself faced a humiliation with this incident. The year 2009 also has started with a wrong note. Anticipating much worse scenarios in 2009..
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