Satyam Fiasco

By now, everybody have seen the scandal unravel. Everyone need not think right. So, Satyam may be had the right to think wrong. The Rs 7000 crores statement in the books and later telling it is non existent and fraudelent is incomprehendible. Being a Stock Broker myself for the past 20 years I have not seen a fraud in our Corporate History of this magnitude.



Being a participant in the Market it is difficult to digest the news. All of us have traded in this share for clients or for ourselves, it makes us hang our head in shame that our coutryman has done this, and put all stakeholders money and employees future at stake.



Rama Linga Raju is a coward who should be punished. Our Political Masters hob nob with these undesirable fellows and make money with them by looting the public.(This is an assumption.) This man is a Criminal of the top order who has swindled the money of the public and enjoyed himself for a long time. Greed of excess has given this attitude to these promoters. We should wait and see what course of events are going to take place in future. Till now the Government has taken the right step. Both Chandra Babu Naidu and Rajashekara Reddy are blaming each other for Satyam Fiasco stating that one favoured the other. The sad thing is both of them were close to him during good times. Now, the times are bad they drop him like a hot potato. Nothing happened to CRB Capital Fiasco were one Mr. Bhansali was Involved. I am not sure what happened to M.S.Shoes scandal. Usually in this Karma Bhoomi people get away soon without any punishment, so I am not surprised if Mr. Raju is scot free from tommorrow in some pretext or the other.

Character of the individual is important for an organisation or the Nation. On one side we see the Tatas and the Oberoi Staff help the guests giving their lives, and the Management having great respect with their employees and Stake holders. In fact the Hotels opened up and the staff are rearing to go and work there. One of the cooks of the Taj has told his daughter that The Taj will never burn. That is the true spirit of true entrepreneurship and loyalty. The investing community should be ever vigilant of the Balance Sheets and Accounts given by these companies and question them when required.



The people and the readers each and everyone of us should wake up and be alert of what is happening in the companies we invest. Share Holder activism is of paramount importance , when we invest money in a Company its like buying a business and we should take care of our Business well. The Management should be questioned in the AGm (Annual General Meeting.) and the wrong doings should be upheld. Of course it is the mindset first. Once we make up our mind no one can stop us. Yes these things take time to repair but, if we make a start things will roll.
Of course things now seem to be falling in the right direction like a new Board set up but, some officials are in the U.S. and Singapore in the pretext of meeting clients. Hope there is no ulterior motive in that. We have to wait and see how things unfold and I invite suggestions from readers regarding this subject.