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..

Happy New Year

At last, year 2008 passed by. This year has left many scars on people of the world and particularly on Indians. Global economic crisis made us less powerful to buy things and Mumbai attacks induced fear in the hearts.

Fortunately, some good things also happened this year, in the events of Barack Obama being elected as the President of United States, release of The Dark Knight etc,. helped us on emotional and entertainment fronts respectively..

Enough said about the year, I hope the coming year 2009 will bring cheers and happiness to the people of the World.

May the World economy settle and may Terrorism find its grave.