A Lion’s eye on the Bulls and Bears
“In India, companies may fall sick, but promoters rarely do!”
Raju Raju sat on the wall Raju Raju had a great fall Balance sheet died Shareholders cried Raju Raju made a fraud Raju Raju Yes baba Cheating us No baba Telling Lies No baba Open the balance sheet HA HA HA (Thanks VGP)
Twisting some Nursery Rhymes for Satyam’s Ramalinga Raju Read More »
Larsen was probably ill advised to buy a 4% Stake in Satyam at undisclosed price…Definitely over Rs 100 asY.M. Deosthalee told Dow Jones Newswires by telephone that the company acquired the stake over ten days ending Tuesday through its L&T Capital arm. This would mean L & T Capital,through whom Larsen bought the Stake,paid Prices of
Punj Loyd is facing a serious Problem in it’s wholly owned subsidiary in United Kingdom It has seen a Cash Outflow of Sterling Pounds 28.5 Million which translates to @ Rs 250 crs on encashment of Bonds by SABIC…The Subsidiary,Simon Carves Ltd has filed a Case against SABIC In a Growing Global Recession…UK has already admitted
On Paper, as of September 30,2008 the Assets of Satyam were Rs 8300 crs…after adjusting for the overstated assets and understated liabilities as confessed by the now disgraced Promoter Chairman,Ramalinga Raju the networth of Satyam drops to @ Rs 1200 crs….With 67 crore shares of Face Value Rs 2 in existence,the book valueper share would get
In this unfolding Satyam Saga unleashed by Chairman,Ramalinga Raju’s confession on fudging accounts for years,this evening we had their auditors,Price Waterhouse releasing a statement defending their audit of Satyam ,stating it complied with generally accepted auditing standards in India and that there was appropriate evidence to support their audit They have also ,under the excuse
Within just one day of Satyam’s Promoter Chairman,Ramalinga Raju confessing to cooking up the Books, in his letter to the Board,the Auditing House and one of the ‘Big Four’,PRICE WATERHOUSE is already being relegated to history for their role in this unfolding and sordid Satyam Saga…remember how the Auditing Giant,Arther Anderson wound up when Enron failed !?