A Lion’s eye on the Bulls and Bears
“In India, companies may fall sick, but promoters rarely do!”
The Minutes of the Crucial December 16,2008 Meeting of the Board of Directors of Satyam to discuss and approve the Maytas acqusition proposal are now in public domain Phew ! I read the Twelve pages of the Minutes and can only say this ! NONE IN THE BOARD WAS ABOVE BOARD ! The way the Meeting Progressed …
Was shocked to hear this morning on CNBC 18,Executive Chairman of Jaiprakash Associates,Manoj Gaur,confessing he was not aware of the Debt to Equity quotient in his Company ! On earlier being asked as to how much cash was there on the Books,he quickly stated “Rs 1500 crs” Mr Gaur,who’s running your Company if you’re not !? Mr …
Disgraced and jailed Promoter Chairman,Ramalinga Raju, of Satyam,confessed on January 7, 2009 that there is a huge cash hole of Rs 5040 crs in the Balance Sheet of Satyam as on September 30, 2008 and that for years he has been resorting to Inflating Revenues So what could be the Nature, Form, Impact and Effect …
Possible Nature of Phantom and Fictitious Accounting Entries in SATYAM Read More »
I am truly intrigued…sure all of you too are…. as to how Ramalinga Raju of Satyam got past the auditors,Price Waterhouse (PW) So when PW disclosed a few days ago that they had appropriate evidence to support the Satyam audit,it really got me thinking It would thus seem that PW must have seen the Bank’s Fixed Deposit Receipts which supported …
I confess,I did not anticipate this bombshell confession of Satyam Promoter,Ramalinga Raju on January 7,2009 which saw the Satyam price Collapsing from Rs 175 to Rs 40 on the same day However,after Ramalinga Raju,had announced on December 16,2008,the now infamous Satyam’s Proposal to take over Maytas Companies,I had blogged on December 17,2008 to SELL SATYAM …
The battered auditors of Satyam,Price Waterhouse,have just issued a letter dated January 13,2009 addressed to their Client,Satyam Computer Services Ltd and marked for the attention of the three New Directors in the New Board and the Company Secretary….This Letter is also been cced to SEBI,RBI,BSE,NSE,New York Stock Exchange,ROC,Hyderabad and the Central Board of Direct Taxes The …
Auditors Price Waterhouse….You are sealing your own Fate in this Satyam fraud! Read More »