పాపం సత్యం…

[Android_Halwa]

10 minutes ago, Vaaampire said:

108 was raju’s brainchild. Sommu okkadidu soku okkadidi laa credit motham ys ki poyindi

Not really, Byrraju foundation was given the task of operating emergency services. Govt paid the foundation on a non profit basis to run the service. 

[Assam_Bhayya]

Satyam scam lo Pwc and Deloitte role in accounting, auditing ani news lo ochindhi kada va, e companies inka India lo top notch auditing companies. 

[andhra_jp]

Satyam's former CEO Ramalinga Raju's revelations during interrogation have reportedly led the CID to several documents that could link Raju and his family to many benami land transactions. The police believe that 507, Gurez Apartments, Somajiguda a low-key apartment in Hyderabad was possibly a secret den of Ramalinga Raju and his brother Rama Raju.

 

 

[Android_Halwa]

3 minutes ago, Assam_Bhayya said:

Satyam scam lo Pwc and Deloitte role in accounting, auditing ani news lo ochindhi kada va, e companies inka India lo top notch auditing companies. 

Duniya jarigina prati okka fraud venakala ie accounting companies involvement vundi…they are clever, usually when they enter into contract, local CA galla details tho contract finalise chesukuntaru just in case audit valla company blacklist aithe head company ki effect avakunda..

[andhra_jp]

The Satyam fiasco could, well, be the result of greed for vast stretches of land and property.

It is now apparent that Ramalinga Raju and his family were buying land like there is no tomorrow and Satyam's money could have been used for that.

One board member has already admitted that Raju's personal land holdings can be auctioned to recover money for the investors.

 

[andhra_jp]

Ramalinga Raju Background

Armed with an MBA from Ohio, Ramalinga Raju returned to India in 1977 as a confused 23-year-old. His father, an ambitious man who was into grape farming, handed over a fledgling hotel business to him.

For the next few years, Raju ran this business unsuccessfully . Then he started a spinning mill buoyed by Dhirubhai Ambani's success in the textile business. This too went nowhere.

Satyam Computers was launched in April 1987 on the advice of D V S Raju, an electronics engineer who studied in Ohio with Ramalinga.

Company operations were left in the hands of DVS. Under him Satyam in 1992 pioneered the offshore business of writing software solutions from India.

The first client, tractor giant John Deere, was lured by the low costs. After getting a hang of the business, Raju got rid of DVS (who now owns Gangavaram Port in Visakhapatnam).

Since Raju and younger brother Rama Raju (a RamaLakshmana jodi) knew nothing about the technical aspects of the IT business, in came Srini Raju, co-brother-in-law of Ramalinga.

For the next few years Srini, an engineer who had worked for Texas Instruments ran Satyam powering it as an internet service provider and Y2K business.

Ramalinga maneuvered Srini out of Satyam and took charge of the company with brother Rama.

Raju who had an inferiority complex vis-a-vis N R Narayanamurthy and Azim Premji wanted to rival them.He began running even faster, furiously cooking his account books and inflating profits.

This led to increasing prices of Satyam scrips. Raju cashed in, offloading the promoter's shares or by using them as collaterals to borrow from banks

Starting with 80% promoter's shares, Raju ended with zero shareholding by the time he gave in. The money raised was used to buy land across the country .

 

[andhra_jp]

Raju Wife upset with CBN's use and throw mentality

 

Ramalinga Raju house is just 100 yards away from CBN house in Jubliee hills ..In 9 yrs CBN was chief minister Raju was frequent visitor to his house on Road no 65 ... Those 2 were really close ..

It was win-win relation where Naidu wants to compete with bangalore,chennai and got Raju & Satyam to showcase to world and Ramalinga Raju needs political backing as well..

Raju was so feted by the state’s politicians that when Bill Clinton visited the city in 2000, Mr Raju was invited to share the podium with the then US president.

Returning the compliment the following year, Mr Raju got Mr Naidu to ring the opening bell when Satyam became one of the first Indian companies to list on the New York Stock Exchange.

Both of them had vision for IT and hence Raju wife Nandini was upset when Naidu began distancing from Raju after fraud came out...

[Vaaampire]

40 minutes ago, csrcsr said:

Emo anna e roju scams chustu unte adi 1% kuda kaadu

Yaa. Amount wise its peanuts. But impact wise its dinosaur. 
Satyam computers was registered even in US stock exchange anukunta. I remember satyam employees credit cards getting cancelled in USA during that time. 
 

India lo political scams verey level ley. Mostly quid pro.. very tough to prove. Ippudu maytas lo kooda. They used govt to grow fast and govt used them to do transactions. 

[hyperbole]

3 hours ago, Dr_Muddu_Krishna said:

Papam kashtapadi build cheskunna empire ni mahindra vallaku peanuts ku dorikindhi, Hyd outskirts lo company, land, other areas lo sez lands govt subsidy ki ochinavi, employees, clients, resources, offices space as it is odhilesadu, chesina fraud intensity ento kuda public ki thelidu, just thittukovadam.

Enni lakshala kotlu thinnado thesi pettukuni politics chesthunnado emo curse chesthunna janalaki theliyali. Papam long jail sentence tharuvatha oka CM post ayina rakapoye, bad luck. But I still have great respect to him on par with tata. 

Because he pledged 2000cr shares of satyam with the banks, satyam stock fell from 550 to rs 20, government was worried and made a last ditch attempt to save banks who lent him money and had satyam shares as collateral. Hence mahindra came into picture

[hyperbole]

4 hours ago, Vaaampire said:

Naaa man. Actually some of the money got diverted to maytas

Maytas preceeds satyam, he was a real estate guy before he incorporated satyam. Mytas was reincorporated as Maytas infra in 2000s and it had a big order book(some 40k crores).

it is a chicken egg problem, inorder to raise funds for mytas he cooked books of satyam to pledge shares and raise money, the hole got so big that he couldn’t hold everything together

[hyperbole]

2 hours ago, Assam_Bhayya said:

Satyam scam lo Pwc and Deloitte role in accounting, auditing ani news lo ochindhi kada va, e companies inka India lo top notch auditing companies. 

Pwc got suspended from doing any business in India for 2 years.

Raju established many shell companies to route money and raise invoices, on the accounting firms defense they simply tally what was given to them but they should have known the loopholes and he bribed the accountants/employees aware of the facts, a lot of them were booked

[Vaaampire]

2 hours ago, andhra_jp said:

Ramalinga Raju Background

Armed with an MBA from Ohio, Ramalinga Raju returned to India in 1977 as a confused 23-year-old. His father, an ambitious man who was into grape farming, handed over a fledgling hotel business to him.

For the next few years, Raju ran this business unsuccessfully . Then he started a spinning mill buoyed by Dhirubhai Ambani's success in the textile business. This too went nowhere.

Satyam Computers was launched in April 1987 on the advice of D V S Raju, an electronics engineer who studied in Ohio with Ramalinga.

Company operations were left in the hands of DVS. Under him Satyam in 1992 pioneered the offshore business of writing software solutions from India.

The first client, tractor giant John Deere, was lured by the low costs. After getting a hang of the business, Raju got rid of DVS (who now owns Gangavaram Port in Visakhapatnam).

Since Raju and younger brother Rama Raju (a RamaLakshmana jodi) knew nothing about the technical aspects of the IT business, in came Srini Raju, co-brother-in-law of Ramalinga.

For the next few years Srini, an engineer who had worked for Texas Instruments ran Satyam powering it as an internet service provider and Y2K business.

Ramalinga maneuvered Srini out of Satyam and took charge of the company with brother Rama.

Raju who had an inferiority complex vis-a-vis N R Narayanamurthy and Azim Premji wanted to rival them.He began running even faster, furiously cooking his account books and inflating profits.

This led to increasing prices of Satyam scrips. Raju cashed in, offloading the promoter's shares or by using them as collaterals to borrow from banks

Starting with 80% promoter's shares, Raju ended with zero shareholding by the time he gave in. The money raised was used to buy land across the country .

 

Deeniki continuation story cheppana?

raju kicked out his co-brother & few other people from key posts but they were part of board.

when raju proposed to aquire maytas and merge with satyam, the above mentioned board members played spoil sport. Okkavela maytas ni merge chesi untey, okka issue kooda undedi kaadhu. 

[Konebhar6]

DVS Raju who got out of Satyam founded VisualSoft Technologies in 1990's and sold it in 2006 i guess. He ventured into Gangavaram port around that time frame.

[hyperbole]

1 hour ago, Vaaampire said:

Deeniki continuation story cheppana?

raju kicked out his co-brother & few other people from key posts but they were part of board.

when raju proposed to aquire maytas and merge with satyam, the above mentioned board members played spoil sport. Okkavela maytas ni merge chesi untey, okka issue kooda undedi kaadhu. 

Merging Mytas was not a plan, it is desperation to cover his trails and that made everyone wonder wtf a reality company had to do with IT consulting firm, he was running out of money and he couldn’t raise anymore money for the infrastructure projects he had committed(14k crores for Hyderabad metro rail, 10-12 k crores for machilipatanam or some port). He got so many favors from the state government that almost of the 40k projects were from AP state government. Obviously he might have committed some kickbacks in these deals(2008 elections etc). In the end he bit more than he could chew, unfortunately all these unfolded at wrong time (one of the worst recessions ever)

[Vaaampire]

45 minutes ago, hyperbole said:

Merging Mytas was not a plan, it is desperation to cover his trails and that made everyone wonder wtf a reality company had to do with IT consulting firm, he was running out of money and he couldn’t raise anymore money for the infrastructure projects he had committed(14k crores for Hyderabad metro rail, 10-12 k crores for machilipatanam or some port). He got so many favors from the state government that almost of the 40k projects were from AP state government. Obviously he might have committed some kickbacks in these deals(2008 elections etc). In the end he bit more than he could chew, unfortunately all these unfolded at wrong time (one of the worst recessions ever)

Yaa desparation to cover the mess. Workout avvaley. Ayyi untey issue bayatiki vachedi kaadhu