graphic23 Posted January 13, 2009 Posted January 13, 2009 I am not offended (I am from Hyderabad) but I am very ashamed of it. :(( It is extremely depressing that 50k families have been affected because one man decided to get greedy. Surprisingly (or perhaps unsurprisingly), he has done loads of good to his village (involved in heavy philanthropic work) but that doesn't matter because he did it with someone else's money. I am very disappointed. I will be applying to ISB nonetheless, in about a year and a half.
Desi Cartman Posted January 13, 2009 Posted January 13, 2009 why r u ashamed of it ? its not like only people from hyd do frauds ... Its sad though :((
graphic23 Posted January 13, 2009 Posted January 13, 2009 why r u ashamed of it ? its not like only people from hyd do frauds ... Its sad though :(( Because I am very proud of the city and it means a lot to me. And now in the eyes of the nation and the world, the name has been marred. :((
Desi Cartman Posted January 13, 2009 Posted January 13, 2009 Because I am very proud of the city and it means a lot to me. And now in the eyes of the nation and the world' date=' the name has been marred. :(([/quote'] not really .. remember Enron
DomainK Posted January 13, 2009 Posted January 13, 2009 Once again' date=' just because a few individuals conspired to manipulate the company’s books does not mean the whole company has to go down. Those individuals will hopefully pay the price for the financial mismanagement, but Satyam as an entity should survive. And its not just investors, you musnt forget the 50,000 odd high-paying jobs that are at stake here.[/quote'] what about the 50k + employees Yes, thats even more sad. That too at a time when the job market is already down world wide. What a shame!! I can understand what the people of Hyderabad must be feeling. Worse....what his family members must be going through who had nothing to do with the fraud. He is just a greedy man....nothing to do with any state, anyone.
flamy Posted January 13, 2009 Author Posted January 13, 2009 Arent you from Karachi? Some told me you were the camera man when Chand Nawab was doing his Bi'dness. I'm a diplomat. Was born in Karachi and then moved to Bangalore when I was 13, been in Blore for 4 yrs, now will go back to Karachi after the crackers stop. I believe in one Sarzmeen as it was pre-1947. Inshallah!
Desi Cartman Posted January 13, 2009 Posted January 13, 2009 I'm a diplomat. Was born in Karachi and then moved to Bangalore when I was 13, been in Blore for 4 yrs, now will go back to Karachi after the crackers stop. I believe in one Sarzmeen as it was pre-1947. Inshallah! mashaallah tum to mere bhai nkilay ... kahin tum bhi suicide bomber to nahi :omg:
fineleg Posted January 13, 2009 Posted January 13, 2009 I am not offended (I am from Hyderabad) but I am very ashamed of it. :(( It is extremely depressing that 50k families have been affected because one man decided to get greedy. Surprisingly (or perhaps unsurprisingly)' date=' he has done loads of good to his village (involved in heavy philanthropic work) but that doesn't matter because he did it with someone else's money. I am very disappointed. I will be applying to ISB nonetheless, in about a year and a half.[/quote'] graphic, I dont think this one guy's greed has harmed the name of the city. For the short term yes. But then Satyam is just one company, and not everything from Hyderabad is associated with that.
bulbul Posted April 9, 2015 Posted April 9, 2015 Satyam fraud case: Ramalinga Raju, all other accused found guilty HYDERABAD: All 10 accused, including B Ramalinga Raju, in the multi-crore accounting fraud Satyam case were found guilty on Thursday by a special court in Hyderabad. The quantum of sentenced would be pronounced on Friday. During the last hearing on March 9, special judge BVLN Chakravarthi said, "On April 9, the judgment will be pronounced. I am making it very clear. April 9 will be the final date for the verdict. No question of further adjournments. Court will not wait." Touted as the country's biggest accounting fraud, the scam had come to light on January 7, 2009, after the firm's founder and then chairman B Ramalinga Raju allegedly confessed to manipulating his company's account books and inflating profits over many years to the tune of crores of rupees. http://timesofindia.indiatimes.com/tech/tech-news/Satyam-fraud-case-Ramalinga-Raju-all-other-accused-found-guilty/articleshow/46859762.cms Took 6 years :banghead:..still more courts to go.
Sachin=GOD Posted April 9, 2015 Posted April 9, 2015 7 years in jail and 5 crore fine. Jail time seems adequate but fine is too low IMO.
amiret Posted April 9, 2015 Posted April 9, 2015 5 crore fine for 12,000 crore Fraud. :haha: And it won't be long before he gets parole. Companies have gotten away by paying fines of few lakhs for insider trading in India.
Recommended Posts