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Tracked by: 1 Boarder
It is too much to expect MMB to publish your posts without cutting sentences in the middle especially about the "fool hardy experts" which the MMb and their bosses support most wholeheartedly even they have failed repeatedly..
Looks are Deceptive..
People who appear smart need Not be so..
The recent happenings all over the world is a testimony that the masses are duped again and again mostly by "reputed" names..and their vested interests..
one have serious doubts about most reputed names nowadays..
No one can be guide by "experts " unless he himself knows clearly what he is doing and why..Merely relying on "so caled experts" and their vested interests supported by the media is suicidal.....
In reply to:
Satyam: A cleverly crafted scam
Posted by :
selvam
A person very good at giving running commentary on cricket on TV and Radio (they are dime a dozen..) need NOT be experts about the actual playing of cricket..But many people take their word verbatim and believe it to be 
Tracked by: 1 Boarder
In india, one thing is absolutely free that is running commentary and advice....
In reply to:
Satyam: A cleverly crafted scam
Posted by : selvam
A person very good at giving running commentary on cricket on TV and Radio (they are dime a dozen..) need NOT be experts about the actual playing of cricket..But many people take their word verbatim and believe it to be
Tracked by: 0 Boarder
It took B Ramalinga Raju just 23 days to destroy what he had built up over 21 years. But if insiders, and those closely associated with the process, are to be believed, the rot had been in the making right since 1997, when scant respect for norms and constant cooking up of quarterly figures, even as board meetings were in progress, became common practice.
But then, 54-year-old Ramalinga Raju and younger brother Rama Raju’s brush with IT — incidentally neither of them has an engineering background — was the stuff dreams are made of. After kicking off businesses in textiles weaving & spinning and construction in 1977, this agriculturist’s son from Bhimavaram in West Godavari district of AP, was inspired to enter IT by his engineer brother-in-law DVS Raju, who helped him set up Satyam Computer Services in 1987.
The IT services industry was still in its infancy and offshoring was still unknown. But what is little known is that Satyam was the first to prove that IT services could be delivered remotely when in 1991 it set up the ‘Little India’ project for US tractor company John Deere by locking up in a room a few engineers in the US working to India time to show client offshoring was possible. Back in India the company took the help of T Hanuman Choudhary, the founding chairman and managing director of Videsh Sanchar Nigam Ltd, to set up India’s first 64 kbps data line for offshore delivery of IT. Rest was history.
After the initial foray and success with offshoring, Satyam rode the Y2K boom to riches and glory reaching a total employee size of 53,000 as of last quarter with revenues of $2.4 billion over the last four quarters and operations across 65 countries through the parent Satyam and six subsidiaries including Satyam BPO.
In between came a brush with the Internet business through Satyam Infoway (now Sify) set up in April 1998, followed by the famed $115 million Indiaworld acquisition, which set the Indian dotcom dreams rolling, in December 1999. The company survived the subsequent dotcom bust hiving off equity in Infoway and concentrating on software services, a decision based on a rethink in late 1999 to get back to core business and shed the image that the group was too diversified.
Never considered in the same league or respected as much as the other three giants, TCS, Infosys and Wipro, Satyam nevertheless was counted among the big boys by virtue of its size and public image, much of it assiduously managed.
Raju’s affinity for philanthropy, through the Byrraju Foundation and the Satyam Foundation, and the much appreciated 108 EMRI service in several states, gave the company respectability, at least in Andhra Pradesh. And then the long line of awards, including the E&Y Entrepreneur of the Year Services award 1999, the Dataquest IT Man of the Year Award 2000, the Asia Business Leader Award 2002, and the Golden Peacock Award for Corporate Governance as recently as September, did help in adding to the buzz about the company.
Few could have imagined Raju himself would turn out to be the nemesis for Satyam. The Andhra icon may not have had a meteoric rise, but definitely a quick and unexpected fall.
DNA.....
Tracked by: 1 Boarder
A person very good at giving running commentary on cricket on TV and Radio (they are dime a dozen..) need NOT be experts about the actual playing of cricket..But many people take their word verbatim and believe it to be ...
In reply to:
Satyam: A cleverly crafted scam
Posted by : pup
Mr. Udayan use to make visits of company during earning seasons and he is a known and master analyst then how he could not smell the fraud of Satyam. It is easy to do postmertum than to prevent the occurance of such unfortunate fraud?
Tracked by: 42 Boarders
Hi Vam_aru...U r expecting too much from Malayali...He will say only once a trend emerges...And shorts can suddenly goto Longs...LOL...
In reply to:
NIFTY = 4750 & SENSEX = 15000
Posted by : vam_aru
Dear malayali.
How many lots you have bought ? i hope you have bought 500 lots !!!!.. of satyam. average price ?or is it cash delivery , you can inform now only , rather than simply say I bought... It will help other boarders not to raise questions on your integrity...
Tracked by: 1 Boarder
We investors now want ideas and suggestion as how company can be revived and not any more postmertum. ...
In reply to:
Satyam: A cleverly crafted scam
Posted by : Udayan Mukherjee
So even if there is any kind of a modest bounce in Satyam from whatever price level because people believe that the 5,000 crore of cash is still there, there is a big line of people and the Fidelity and Aberdeen’s of the world are not going to stand down with Satyam right now because of whatever cash is lying on its books. They want out and they want out like yesterday.
So this stock now has huge amount of overhead supply which just cannot be absorbed because the number of sellers far outnumbers the number of buyers in Satyam Computers at any price point. So this stock could fall to Rs 10 even if there is cash on the balance sheet because there would be a large number of institutional investors who have completely seen this lie and I do not think that they would want to hang on there at Rs 80-70 because of any kind of cash lying on its books.
This stock’s value despite the cash or the business operations right now is probably in single digit rupees. Nobody trust this, you have just broken down the trust completely, how do you believe a management which just cooked up everything from its balance sheet to its earning statement over the last many quarters and serially quarter after quarter went on national TV and reported to the exchanges one magnificent lie after another. It is just completely preposterous.
Who do you believe now?
Satyam is a company which is listed on the New York Stock Exchange (NYSE); this is an index company, quarter after quarter it announces numbers which we take as gospel and we do a lot of analysis, every analyst does on whether margin slipped a bit and wage hikes happened and now you know that none of those numbers existed then who do you believe?. Do you believe auditors, who are supposed to be looking at these companies?
This is a fundamental issue of trust and faith which has been shaken. One can forget about the Satyam stock much that we feel very bad about Satyam shareholders that is one company. Here you stand the risk of actually losing your faith and trust in the system, which is supposed to be policing the numbers which you have faith and trust in. What happens to the auditors? This is a company which is not a fly by night small company, it is listed on a global exchange, global investor – they are supposed to be following US GAAP norms etc and quarter after quarter they keep blinkering all their investors and none of us find out till the promoter one fine day decides to confess.
Could there be more companies doing these kind of thing? What are the auditors doing? How will we ever know? You and I cannot be looking at going into and checking the bank accounts of Satyam and what they earned in a particular quarter or not. At some level there has to be an implicit code of faith that we believe what is posted on the walls of the exchange but today we cannot. So what are these people doing – these auditors and tax consultants and even rating agencies, how have they conducted themselves over the last two-three quarters. It is absolutely appalling.
-Udayan Mukherjee, Managing Editor,CNBC TV18
Tracked by: 42 Boarders
Dear malayali.
How many lots you have bought ? i hope you have bought 500 lots !!!!.. of satyam. average price ?or is it cash delivery , you can inform now only , rather than simply say I bought... It will help other boarders not to raise questions on your integrity...
...
In reply to:
NIFTY = 4750 & SENSEX = 15000
Posted by : MALAYALI
Today, I bought S A T Y A M. HAH... HAH... HAA... that`s the trick. MALAYALI : holding H U G E - H U G E - H U G E volumes, hah... haa...
Tracked by: 1 Boarder
dear pup
sorry sir. i can smell rot miles far. there are so many who can do it, if they want to. if you want to cover you can use one kilo litre of axe for 1 gm of stink.
i am still saying many are abundant here in stocks. please know that they are there only to cheat knowingly.
/ht/...
In reply to:
Satyam: A cleverly crafted scam
Posted by : pup
Mr. Udayan use to make visits of company during earning seasons and he is a known and master analyst then how he could not smell the fraud of Satyam. It is easy to do postmertum than to prevent the occurance of such unfortunate fraud?
Tracked by: 1 Boarder
Mr. Udayan use to make visits of company during earning seasons and he is a known and master analyst then how he could not smell the fraud of Satyam. It is easy to do postmertum than to prevent the occurance of such unfortunate fraud?...
In reply to:
Satyam: A cleverly crafted scam
Posted by :
honestytrack
Dear udayan,
you asked how satyam debacle should be handled by sebi from damodaran.
Ask him how he handled UTI rajalxmi scheme case when in UTI.
Ask the current chairman Bhave how they are checking balance sheets of companies showing free reserves within 4 years of incorporation
so huge amounts where the profits in combined no of years is not
even 10 percent of the reserves shown.
In banks a new account ( particularly savings current cash credit )
when opened for six months they follow very closely.
Ask Bhave what is his current practice when a new company is opened.
In banks when a Dormant account is reopened they monitor for many years . usually 2 years its operation.
Ask bhave what he does when Z category companies are bought and brought to b2 and b1. how much he monitors.
Sir everybody is hand in glove.
That is why i tell you in such a enviable position to be also a
bellboy ringing the sound of the bell.
Mod " you tried to bully some ones post here on teledata "
what i asked you was to weigh the posting on merits and not cowed down by threats from that company.
Sir let us all work together to safe guard peoples hard earned money.
Not just make nifty touch 6000.
humble request from me.
/HT/
Tracked by: 0 Boarder
Here is politically well connected family. With our third rate politicians and beaurocrats the tactics used will be the same as what Pakistan is using against India, stonewalling and delaying, hoping for the famous short memory of the public.
The only solution is to go after the land held in the name of the entire family of Ramalinga Raju. He himself will probably spend a year in a 5-star hotel as punishment. Elections are near and the politicians are hungry....
In reply to:
Satyam disaster: Experts examine the remains
Posted by : MMB Messenger
It has been one of the darkest days in Indian Corporate History. Early this morning Mr. Raju the venerated promoter of Satyam Computers, one of India’s largest IT Companies dropped a bombshell when he sent a five page letter to the Stock Exchanges confessing one of the biggest frauds in Indian Corporate History.
Tracked by: 42 Boarders
There is going to be another block closure starting from 11th of this month to 26th Jan`09 at Jamshedpur plant. As you are aware that commercial vehicles are the bread & butter of TATA Motors. Another block closure surely means that its position will be doomed. The stock has to reach two-digit figure in Jan itself, as soon as this information is known to the world. Just sell it. There is no reason for the stock to be trading at 170 levels....
In reply to:
NIFTY = 4750 & SENSEX = 15000
Posted by : mohanji
Dear Malayali,
WISHING YOU A VERY HAPPY & PROSPEROUS NEW YEAR 2009.May God bless you with grand success in new year.Regards
Tracked by: 1 Boarder
if you have the backing of govt, u can do anything legally or illegally and become hero or saviour etc......
In reply to:
Satyam: A cleverly crafted scam
Posted by : honestytrack
Dear udayan,
you asked how satyam debacle should be handled by sebi from damodaran.
Ask him how he handled UTI rajalxmi scheme case when in UTI.
Ask the current chairman Bhave how they are checking balance sheets of companies showing free reserves within 4 years of incorporation
so huge amounts where the profits in combined no of years is not
even 10 percent of the reserves shown.
In banks a new account ( particularly savings current cash credit )
when opened for six months they follow very closely.
Ask Bhave what is his current practice when a new company is opened.
In banks when a Dormant account is reopened they monitor for many years . usually 2 years its operation.
Ask bhave what he does when Z category companies are bought and brought to b2 and b1. how much he monitors.
Sir everybody is hand in glove.
That is why i tell you in such a enviable position to be also a
bellboy ringing the sound of the bell.
Mod " you tried to bully some ones post here on teledata "
what i asked you was to weigh the posting on merits and not cowed down by threats from that company.
Sir let us all work together to safe guard peoples hard earned money.
Not just make nifty touch 6000.
humble request from me.
/HT/
Tracked by: 1 Boarder
if you have the backing of govt, u can do anything legally or illegally and become hero or saviour etc......
In reply to:
Satyam: A cleverly crafted scam
Posted by : honestytrack
Dear udayan,
you asked how satyam debacle should be handled by sebi from damodaran.
Ask him how he handled UTI rajalxmi scheme case when in UTI.
Ask the current chairman Bhave how they are checking balance sheets of companies showing free reserves within 4 years of incorporation
so huge amounts where the profits in combined no of years is not
even 10 percent of the reserves shown.
In banks a new account ( particularly savings current cash credit )
when opened for six months they follow very closely.
Ask Bhave what is his current practice when a new company is opened.
In banks when a Dormant account is reopened they monitor for many years . usually 2 years its operation.
Ask bhave what he does when Z category companies are bought and brought to b2 and b1. how much he monitors.
Sir everybody is hand in glove.
That is why i tell you in such a enviable position to be also a
bellboy ringing the sound of the bell.
Mod " you tried to bully some ones post here on teledata "
what i asked you was to weigh the posting on merits and not cowed down by threats from that company.
Sir let us all work together to safe guard peoples hard earned money.
Not just make nifty touch 6000.
humble request from me.
/HT/
Tracked by: 1 Boarder
It is SURPRISING, this holier than thou attitude adopted by CNBC and Mr. Udayan. Recall how the advance tax numbers were displayed...
Reliance pays on X crores advance tax as against Y last year.... Reliance stock falls substantially.... Then the flash that the higher outflow last year was on account of RPL stake sale, and the stock bounces back.
There are umpteen reports like these.... And they blame it on exchanges, that wires are despatched in pieces.. But does anything stop the channel from collating all the information before flashing it? Vested Interests?
And the channel and Mr. Udayan, who always keep flashing "news" from "unidentified sources", always fuelling speculation, call themselves responsible mediapersons, by taking bedfellows to task when their wrongdoings become public!!!
Long Live St. Udayan and CNBC!
...
In reply to:
Satyam: A cleverly crafted scam
Posted by : honestytrack
Dear udayan,
you asked how satyam debacle should be handled by sebi from damodaran.
Ask him how he handled UTI rajalxmi scheme case when in UTI.
Ask the current chairman Bhave how they are checking balance sheets of companies showing free reserves within 4 years of incorporation
so huge amounts where the profits in combined no of years is not
even 10 percent of the reserves shown.
In banks a new account ( particularly savings current cash credit )
when opened for six months they follow very closely.
Ask Bhave what is his current practice when a new company is opened.
In banks when a Dormant account is reopened they monitor for many years . usually 2 years its operation.
Ask bhave what he does when Z category companies are bought and brought to b2 and b1. how much he monitors.
Sir everybody is hand in glove.
That is why i tell you in such a enviable position to be also a
bellboy ringing the sound of the bell.
Mod " you tried to bully some ones post here on teledata "
what i asked you was to weigh the posting on merits and not cowed down by threats from that company.
Sir let us all work together to safe guard peoples hard earned money.
Not just make nifty touch 6000.
humble request from me.
/HT/
Tracked by: 1 Boarder
ASPardesi:
Satyam has 50,000 employees and considering a monthly salary of 50,000 per month for all employees that`s 250Cr per month..
Best thing is to call the bankers..
I just checked the annual reports (2004) the bankers are:
1. Bank of Baroda
2. BNP Paribas
3. Citibank NA
4. HDFC Bank Limited
5. ICICI Bank
6. Vijaya Bank
It is best to not be adventurous and try to buy any satyam stock for now..(when there are better companies quoting at such great valuations)
=happy investing...
In reply to:
Satyam: A cleverly crafted scam
Posted by :
aspardeshi
Firstly I would like to thank to the bottom line of Satyam, who kept the company running.
Satyam is a big fraud. Arrest the auditors also along with Raju. Auditors are the mirror of faith in any company. They certify the balance sheet after observing atleast the Bank Statement. They are talking about Maytas Deal not to make the situation soft, but to cover the scam. Thank god they did not make a deal with another company like Infosys. You know it is like I have acid and let us hug.
I just do not beleive, how the directors of the company were blank. It just cannot happen. It just cannot be a one man show. No one will beleive it.
Satyam should be valued in a couple of days time and the matter should be put in front of the shareholders with immediate effect along with the share valuations.
There is a desperate need to audit the system itself (I mean from Shareholders upto RBI and SEBI) and reframe the constraints wrt formation,audits of the companies and reporting to the government and shareholders. It is a real need of the time. One man cannot take the dreams of shareholders for a ride. What is the system doing ? There is also a need to bring up a rock solid judgements which will justify the shareholders confidence on a ongoing basis. How can Chartered Accounts certify this. It is really really not expected out of professionals like Chartered Accountants. The total system is running on the basis of CA`s. If they are in the crowd of scams, whom will the shareholders look forward ? What is the difference between a Gamble and Satyam ? Is the Industry a Pure Gamble.
I hope the shareholders and the government will decide it in a very short span of time. To conclude, I would like to say that whatever outcome may come, it should be in a position to be beleived, Not only now but always.
