A Lion’s eye on the Bulls and Bears
“In India, companies may fall sick, but promoters rarely do!”
Today the Media has been airing, what they attribute to sources,that the jailed and disgraced Promoter Chairman of Satyam,Ramalinga Raju,has disclosed on interrogation that he has been fudging the Books of satyam for the last Seven Years ! So we are talking about “Saat-Yama” !…That’s Seven Years which heralded the Beginning of the End with the …
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)
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 …