Thread: Satyam

Pardon my awareness... But can any1 explain what ws that satyam fraud all about???

Have you been in a coma for past 6 months?

hahaha!!

Originally Posted by NARENkill

Pardon my awareness... But can any1 explain what ws that satyam fraud all about???

narenkill read this it might help u :-) Ramalinga Raju resigns, reveals shocking details

even i wanto know where were u all these days and months. i guess atleast u know satyam is taken over by tech mahindra. my ex roomie was a satyam employee and now she is on sabbatical for 6 months only on basic salary no allowances added.

Originally Posted by NARENkill

Pardon my awareness... But can any1 explain what ws that satyam fraud all about???

Why the hell are you apologizing for your awareness in the first place.

Anyway Raju (Satyam founder) with the aid of some high notch employees of Satyam, salted away a considerable amount of money from their own company. They inflated the head counts and thus siphoned off the money through fake employee's salary account.

It shook the credibility of the Indian IT company.

Originally Posted by nandini

It shook the credibility of the Indian IT company.

It also gave really good opportunity for making money.

Bought satyam shares @ 7.15 and sold them off in 8 months @ 95