Satyam- The "Truth"

A year ago a seemingly unstoppable global juggernaut, the once-confident India is now reeling from a perfect storm of a corporate IT scandal, the Mumbai attacks and economic slowdown.

"Satyam Fraud" a massive blow to India Inc and the worst fraud in corporate India's history.

As far as I recount it was all started from Dec19,2008. The Government has ordered a probe into IT giant Satyam's reversal of a major acquisition deal, The Mytas farm.

Now its reveling that the profits had been falsely inflated for years in Satyam, Raju inflated the bank balance to reflect 5,040 crore as against 320 crore.

The founder chairperson Ramalinga Raju is now silent and creating predicament situation for all 53,000 innocent employees.

Founded  in 1987, along with brother B Rama Raju and brother-in-law DVS, ‘Satyam Computers’ soon became the 4^th largest IT service farm in India, is now invigorate its own faith.       

I’ve few college friends in Satyam. They are always nice to me and  count me as one of their well wisher. Subhasis Gupta, Arun Singh, Arun Hazra and Pinaki Mukherji  all of them are my good associates. 

I talked to them and realized they are trying to cope up with this poignant situation.

They are all eyeing to the fact that Satyam backs Govt. move to take charge.

 As our own indigenous company we can hope for the betterment of Satyam and its employees.