And hopefully so, Just sitting in A sports lounge in BIAL international airport in Bangalore .I do have a liberty of watching news in two different screens in two different channel . It is past 9:30 and luckily I do not have my wife to worry about complaining. Among news the great Satyam news gets flashed almost alternatively in each screen, I am on my way to Singapore and I am sure to face a volley of question on this issue. Please be rest assured I am in no way going to give up on brand India. I am surely empowered by the news now to face this threadbare. I write again o Satyam as i did have a offline complaint that i did not touch enough on the subject in my earlier blog and rightfully so.
Today India’s top Banker, It Specialist and a regulator took over as Govt nominees to the board of Satyam. Prime minister had statement to make and most importantly this has resulted in 25 percentage point increase in the otherwise badly battered Satyam stock. Surely these guys mean business.
What went wrong? TO be fare to Raju who is branded Shree 420 what he did is what most business does. Probably he over did it. The single biggest reason is the lust and greed which surpassed Raju more than manageable propositions. Let me but a disclaimer that I am no economic analyst. But I am so confident that Mytas is all or mostly on Satyam money. Probably the gaps are almost the same amount siphoned into Mytas. He wanted to correct it by doing this post dated but by that time the share holders in a IT company were not interested to acquire a already sagging real estate business. I am sure there are a ton of other resources available everywhere doing this analysis on what went wrong. Well I am also sure that all the measure were undertaken to siphon the money including increasing the number count of employees, if the news Items are to be believed. Hence for sure he is in jail, falling from grace is just equivalent to the capital punishment or more but our dear Raju Bhai has surely secured his family which enough funds swashed. There has to be more then what the confession statement states.
To me personally the pain is neck is gone; well almost as I just tried to double check it. I am happy that I see a definitive steps being taken to revive the company, employees sticking to the company, former NASCOM chief who is in board now says that being hopeful to revive the company is a understatement and also happy that I did not invest ever in this company. More than anything it gives me enough points to defend Satyam (Sorry read India) abroad. I know some of you be saying that’s mean of me. For now just wish be good luck.
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