1. Satyam has proved itself as Zhootha and Raju7 has become a Conman from being a gentleman. The real story and Raju motive behind the whole story is as assessed by me and a few pertinent questions which needs to be probed by SEBI.
2. Raju in a deliberate move kept inflating the profit to keep Satyam ahead in the race in so many years but his answer is not palatable as Satyam is listed at US and they have very strict accounting procedures. Was US also sleeping on the said issue?
3. It was a deliberate design to announce the acquisition of Maytas (spelled opposite of Satyam) as in its design they were valuing Maytas at approx $1.6 Billion and it works close to rs 7600 Crore and the magnitude of scam is also same. Thus in reality Raju did not want to transfer the cash to Maytas and thus wanted to fill the so called fraud money in the books and cover the same by reflecting higher market value of the land bank of Maytas Infra to cover himself. Thus no money would have had transferred to Maytas and Satyam scam would have had been also covered by the acquisition in papers.
4. Another pertinent question which needs to be probed by SEBI is to identify the shorting by big operators in Satyam. How one will know if Raju do not have more than 5000 people on his payroll whose work is only to have demat account and short the Satyam in futures segment as Raju the mastermind had two opportunities in form of short in said stock. The first was Maytas Infra acquisition time and second time was his fraud declaration. He could have had made easily fraud equivalent money by shorting the stock through his own army of conmans.
5. Now as of now 53000 employees fate is hanging in fire. The founder Ramalinga Raju and his brother Rama Raju were sent to judicial custody as the government and regulator SEBI huddled in Delhi to put a new management together to run the IT company which has caused an embaressment to govt as Satyam Fraud is going to have far reaching consequences.
Satyam Fraud| Satyam Scam| Real Insider Story
