Lord Posted January 7, 2009 Posted January 7, 2009 shivam sundaram. :hysterical::hysterical::hysterical:
DomainK Posted January 7, 2009 Posted January 7, 2009 Worst hit ever for the Indian outsourcing industry and a very dab day for the IT industry.
Guest dada_rocks Posted January 7, 2009 Posted January 7, 2009 I think he got caught otherwise more or less all businessmen are frauds in my opinion.. It's just like that guy who recently died Gautam Goswami for embezzlement of 20 crore fact is more or less each and every SP/DM embezzles well beyond those numbers.. They just don't get caught..
coffee_rules Posted January 7, 2009 Posted January 7, 2009 India's enron/broadcom. They fudged account books even involing PWC also. who were involved in auditting of the company accounts. (Just like Anderson did for Enron). Most of their assets were only on paper and were bogus. So, investors were taken for a ride. Now their stock has plunged along with BSE and India's reputation. A big embarassment for the Indian software industry and to India's rising power in global economics.
Guest dada_rocks Posted January 7, 2009 Posted January 7, 2009 IS panic creeping in.. This is no doubt huge....... Should I sell my holdings in indian market.. any astute observer of indian market here..
CSK Fan Posted January 7, 2009 Posted January 7, 2009 And Satyam is supposed to be the fourth largest software company in India! Shameful that they were able to dupe the public for 10 years. Tis is gonna have recurpessions
Guest Hiten. Posted January 7, 2009 Posted January 7, 2009 hold on...they've been taking the share holders for a ride since the beginning or this is a recent fk up job by Satyam ?
zubinpepsi Posted January 7, 2009 Posted January 7, 2009 i think its been like this for last 5 yrs i guess.. and RIP satyam.. i dont think they will exist
Macj Posted January 7, 2009 Posted January 7, 2009 i think its been like this for last 5 yrs i guess.. and RIP satyam.. i dont think they will exist Sure they will, ever heard of the BailOut!!
TheBoyPlunger Posted January 7, 2009 Posted January 7, 2009 IS panic creeping in.. This is no doubt huge....... Should I sell my holdings in indian market.. any astute observer of indian market here.. Nope, all scandals hit after the market turns bad. Remember 9/11,Enron,etc? There might be a short term reaction to this news over the next few weeks but over a period of next 6 months the market should recover which might be a time to exit. I believe it's no longer a buy and hold market. Just an opinion and not investment advice
PaiN_KiLLeR Posted January 7, 2009 Posted January 7, 2009 Auditors PWC would have been in for a major ass-whopping had this happened in any other country. They'll get away with it here after a few appeals and litigations.
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