Sachin Agarwal’s Blog

Name is not enough – Satyam Lies for 7000CR

Posted on: January 10, 2009

Satyam Chief has been involved in 7000CR fraud. The big boss is really liar. The big liar.  Satyam shares has been 85% down since this has been public. How can you play with the investors money like that.

It is not a big surprise if we can see the many new faces behind the 7000 CR fraud by satyam. Satyam claims that they will pay salary to every staff..

But how.. are they gonna mortgage their own property they have abroad. Or they are gonna show their Swiss account, they must have….
Well the conclusion is the big name has the big scams ideas.

Satyam’s former CEO Ramalinga Raju is being produced before a magistrate as the government took coordinated action on the IT company that has become the centre of the biggest financial fraud in our country.

Raju may have owned up to the Rs 7,000 crore fraud, but he’s not going down alone. After arresting him and his brother, the CID has confirmed that company’s chief financial officer Srinivas Vadlamani will be the next one facing arrest.

Speaking to NDTV, Corporate Affairs Minister P C Gupta said, “Meeting with SEBI chief over Satyam case details is on. All actions on Satyam is being coordinated with SEBI.”

Ramalinga Raju and his brother Rama Raju were arrested on Saturday night. The Andhra CID officials grilled them all night. The two will be produced in court on Saturday.

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  • None
  • deepika: really it is fraud company...i have purchased one mailer server and i had sent emails so many time but sender did'nt received any mail and Mr. Anant s
  • raj: that really true
  • carmel bed and breakfast: Hey where is this city located i hadn't heard about this city.but according to your information it seems like its an awesome place.
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