Well we have been reading about SATYAM since long, After 26/11 , this is something we are watching regularly in the newspaper, since the debacle i have been tracking the issue and have collected various articles that I'll like to share.
what ever the media says,what ever the authorities have to say, i have a soft corner for B.Ramlinga Raju, though i’ll be coming across my points at a later stage…
Lets see wht others have to say
1.Though Raju has said tht neither he nor his family members have diluted any stake in Satyam, but the facts say that his stake in Satyam was 25.6% in 2001 and currently it is 8.74%
2.The sale of promoters stake took place at prices that reflected the results and prospects of Satyam as shown in the books of accounts.
3.The promoters are believed to have built up a massive land bank of around 7000 acres
4. Rs. 5040cr is the non existing cash amount
5. Rs. 1230 cr is the money owned to others and that has not been disclosed.
6. The aborted Maytas acquisition deal was the last attempt to fill fictitious assets with the real ones, the company actually wanted to cash out from its real estate ventures with cash from SATYAM
7. The cash raised from SATYAM was used to buy several thousands of acres of land and MIGHTY MAYTAS has been built from it.
Why would Auditors and Independent directors oppose promoters?
To be continued… Still workin on the facts further…