Here is the content of outgoing Satyam’s Boss Ramalinga Raju’s letter to the Board. Raju resigned after admitting to the scandal at company. —————————————————————————- To the Board of Directors, Satyam Computer Services Ltd. Dear Board Members, It is with deep regret, at tremendous burden that I am carrying on my conscience, that I would like [...]
Posts Tagged ‘Ramalinga Raju’
7 Jan
Satyam's Boss Ramalinga Raju admits to be involved in a multi year and multi million dollar scam. Raju apologies and quits. Sebi starts probe against Satyam. Stock went down to 10 year low of 30 INR.
Satyam Computer Services founder-chairman B Ramalinga Raju has resigned from the IT major’s board after admitting a multi-crore fraud in the company’s accounts.In a notification to the stock exchanges, the Hyderabad-based IT firm said Raju and Managing Director Rama Raju had resigned early Wednesday and that the Securities and Exchanges Board of India (SEBI) had [...]
4 Jan
History and facts about Satyam
* Satyam, India’s No. 4 software services exporter, was founded in 1987 by its chairman B. Ramalinga Raju, who was born into a family of farmers and is a management graduate from Ohio University. * Satyam debuted on the Indian markets in 1991, followed by a listing in New York in 2001. In 2008, it [...]
4 Jan
Satyam is takeover target now. Satyam founders' stake falls to 5.1 pct from 8.3.
The stake owned by founders of Satyam Computer Services has fallen by a third to just 5.13 percent, the outsourcer said on Friday.Analysts said a lower stake held by founders makes the company a more attractive takeover target for private equity or global information technology firms, as investors demand a change in the embattled firm’s [...]
17 Dec
Satyam's Raju under fire over failed Maytas bid. Satyam's image tarnished in market. Raju may be thrown out by investors.
Corporate governance at Satyam Computers, India’s fourth largest IT giant, is being questioned after promoter R Ramalinga Raju tried to buy his sons companies using Satyam money. Investors gave thumbs down and got the $1.6 billion deal to acquire Maytas Properties and Maytas Infrastructure scrapped. The company lost more than $2 billion abroad as its [...]
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