Indianexpress.com : comments : Raju may face 10 yr jail, Rs 25 cr fine

Raju may face 10 yr jail, Rs 25 cr fine

New Delhi: Satyam Computer Services former Chairman B Ramalinga Raju can face up to 10 years imprisonment along with a fine, which may extend to Rs 25 crore, in the financial fraud that led to erosion of investors wealth by whopping Rs 10,000 crore in a day. Market regulator Securities and Exchange Board ....Read more

Comments

Post comment

5 Comments |

Financial terrorismBy: Rajat | Friday , 9 Jan '09 8:48:41 AM Reply | Forward There is no end to greed. The current worldwide financial turmoil that one sees is due to the greed of the people to enrichen themselves at the cost of faceless others. See Lehman Bros, see Madoff, see Satyam, etc etc. Who suffers - like always - the common man. The buck stops with us and not where it should. This is financial terrorism and kills softly, silently and without blood on anybody's hand

Raju may face 10 yr jail, Rs 25 cr fineBy: Ratan Gupta | Friday , 9 Jan '09 0:32:27 AM Reply | Forward These are the terrorists. These are the real ones. I am scared more of these sophisticated terrorists than the one who shows a gun upon me. Imagine how many people he has murdered. How many familieis he has destroyed for good. How many babies and toddlers are crying? The world is suffering from capitalism terrorism. We need to find brtutality of capitalistic terrorism? Why people are not shouting? Why now people are mum? How come police has not arrested him in terrorism charges? What is the bigger crime than this? Tell me. Does India got hit by greater terrorism than this? What is the comparison? The tragedy of Mumbai looks nothing in front of this terrorism. How many American families are destroyed by Enron terrorism? Where is the limit? Are these humans coat and trouser and tie? Ah. Speak up boys. He will be charged with only 25 crore ruppes. Nonsense. He should be hanged to death with all his property and assets should confiscated. That is it.

Why such a minimal punishmentBy: Raj | Thursday , 8 Jan '09 21:22:37 PM Reply | Forward Why only ten years and 25 crores for looting people of thousands of crores. Is th balacne his commission for cheating people.

Indian IT and ethicsBy: LalooFan | Thursday , 8 Jan '09 20:21:43 PM Reply | Forward Why is this so surprising ? Indian companies have been following unethical practices in US for years now. And it is not only Satyam. Infosys, Polaris and others do it too...including IBM India.Resumes are all false. Degrees and years of experience are lied about. Somebody else gives a phone interview for sombody else. Online tests like "Prove It" are taken by others instead of the candidate. Candidates are paid a higher salary on paper and then they have to return back a certain portion of their salaries to their employer.I recently heard that a grocery distributor in US called "House of Spices" was sponsoring H1 visas for IT professionals. Wonder how US immigration service let that get through.It is a question of ethics. Not the degree of crime. A small unethical step today could easily mean a bigger crime later.

Satyam disasterBy: Puja Choudhary | Thursday , 8 Jan '09 17:54:19 PM Reply | Forward If such people, who are supposed to be visionary leaders who set path for others to follow, commit such fraudulant act in the name of corporate governance, then its hard to predict the future of our country and its people...such kind of overstating of balance sheets and income statements, windowdressing and misleading its investors is not acceptable...the chairman had only disclosed the fraud when it became inevitable. I stongly feel that this act should not be overlooked since the critical condition of the employees and workers are at stake and it has also affected the stock market conditions