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Satyam scam: Raju, we feel sorry for you, say employees

Hyderabad: Many staff at Satyam Computer Services tried to put up a brave front on Friday, hoping things would return to normal soon and their jobs secured even as the outsourcer fights for its survival. Huge banners with messages from some of Satyam's 53,000 staff and their hand imprints have been put u  ....Read more

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51 Comments |
corruptionBy: Arthur | Saturday , 10 Jan '09 1:04:03 AM Reply | Forward The company is a humiliating mark on India. The company should be liquidated and the money given to the shareholders who lost everything. A lesson to forign investors: Think twice before investing in india.
Satyam, sivam, SundaramBy: Ram | Monday , 12 Jan '09 2:42:17 AM Reply | Forward Money to be given to the shareholders? So, you will give 100 million$ to be handed over to the 1000's of holders? There are loads of dirt there-Ambanis in the lead. Dig out, u will get more muck. As a CA who hardly ever worked in India, I am appalled that there is no confirmation of balance from the banks by PWC, with whom I have dealt for over 15 years outside of India. So, all the employyes are Indians I suppose from India. Make sure all the listed companies show the true values of the assets and liabilities now-property values are off thr cliff. Stop dreaming buddy!
Stop Blame GameBy: Himmat Chauan | Saturday , 10 Jan '09 0:15:09 AM Reply | Forward I do not know anything about this co. SATYAM. But to employee 5100o employees and bring the comany to that level is big achivements. He and his board members were not able to continue growth. Now some one need to take a charge and bring that company back to track and continue making good name for indian organizations.
Future of employeesBy: undefined | Friday , 9 Jan '09 23:58:36 PM Reply | Forward What will happens to all employees now?
SatyamBy: Sunil | Friday , 9 Jan '09 23:29:36 PM Reply | Forward This serves the corrupt and fraudulent Indian companies right. I can almost be certain that similar situation exists in Infosys, Patni, Tech Mahindra and WIPRO etc. These are all apparently, acording to my opinion, corrupt companies involved in accounting, hiring, kickbcks, business process etc. malpractices and fraud at various levels, of course apparently in connivance with the managements of local US/EU corporations. Indian businesses reek of corruption like the whole political and social environment there... one faces corruption at every stage of life ..even for the simplest of activity. I hope all US and EU companies immediately cancel ALL their outsourcing and local resource augmentation plans with ALL Indian IT companies immediately and cancel their visas and send all those people packing back to India. These people have given a bad name to ALL people of Indian origin.
Better Checking SystemBy: Khalid Kuzhikkattil | Friday , 9 Jan '09 23:06:13 PM Reply | Forward I surprise how can a company inflate the profit from the last several years?. There is no public auditing system from the Govt: and SEBI?. It will create big trouble in the future for Domestic as well as Forign investments in the coming future.We would have to develop a strategic auditing system for all corporate for the bright future of all.
Wake upBy: Sasi | Friday , 9 Jan '09 22:59:35 PM Reply | Forward Education is not the provision of begging bowls to the youth, and calling them degrees. Jobs are not so fundamental; inner joy is the important gain. Suyoga is more important than udyoga ( Employment). From the menial to the minister, the current cry is for jobs and Money. Udyoga really means ‘ Higher Yoga’ and it is available to everyone at all times. Education must confer humility; it must transform, moral, mental and spiritual fields and purify thought, word and deed. The educated must gladden the heart of the parents; when that is done, it bears fruit. Education is for life; not for earning a living, remember. May you all be earnest and skilled builders of a happy and prosperous country not usless super power. May all of you contribute to the establishment of Ananda in all hearts. malice?
Governments failureBy: Sudhir pattnaik | Friday , 9 Jan '09 22:44:19 PM Reply | Forward It is suprising that the fraud in showing profit was going on for many years by the Satyam and no audit could trace it. It is failure of the Governments mechanism in ensuring proper audit and the Government of India is to be blamed equally. when millions of people are investing their hard earned money, it is the duty of the Government make proper system of audit. It is excess liberalisation which caused such a huge loss to the investors. It does not matter what punishment Mr. Raju will get but by that the investors will not get bach their money. Therefore, the Government of India must take the responsibility to bail out satyam and to save the jobs of million of employees and investors all over the world. apart from that it is necessary to audit all other companies and to put a proper system of audit so that such fraud does not occur again.
A rare opportunity for IndiaBy: Jay | Friday , 9 Jan '09 22:41:04 PM Reply | Forward This is a rare chance to punish a corrupt businessman in India, as they hardly acknowledge their guilt or even feel they are doing anything wrong by cheating people and the country. I hope general people will demand accountability from politicians and administration to punish such criminals.
Satyam scam: Raju, we feel sorry for you, say employeesBy: Govind Rajan Ethirajan | Friday , 9 Jan '09 22:00:39 PM Reply | Forward Satyam scam: Raju, we feel sorry for you, say employeesI am a Satyamite. This claim of employees displaying sympathy is exaggerated. Majority of employees like me feel betrayed. Why one should feel sorry for a seasoned crimilnal like Mr.Raju? Sympethy is not going to feed my family for next couple of monthsI urge Government to take stern action so that such crimes are not committed by other Promoters
Ramalingam Raju -- RiH (Rot in Hell)By: Daljit S | Friday , 9 Jan '09 21:49:57 PM Reply | Forward Ramalingam Raju should ROT IN HELL for ruining not only the company, but also the Indian economy, the stock market and the Indian prestige.
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