A-Satyam....Raju's Vanishing Cash ka Jaadu!

The Satyam Saga : Flash Back and Now!!
If I say I am going to give you the complete Satyam saga, give you a blow- by- blow account of what Ramalinga Raju did, you better don't believe me!

The image here is Raju playing Holi @ Satyam, Perhaps, he was preparing for "Hands Up" for a long time before anyone could catch him "red-handed" !

Satyam stock plunges..Andhra Cm says he's not responsible for Raju's Rise..Satyam's 6.55 acre land being handed over to Indian Navy..

This is not what I am going to expound on- This is something that's already in the news. After all, it is the most "googled" thing today, greater than even Obama!
Just to bring forward a few interesting facts i got :

1. Satyam's website has some interesting write up on compliance : "Compliance isn’t just about reporting, or data management, or training, or having the right technologies; it’s all of these together. The overarching intent of all of these compliance programs is to help enterprises address four key areas: information integrity, process integrity, controlled access to information, and secure information retention" Hehe... Information integrity.. secure information retention..hehe, to think of all the institutional investors close to satyam and the top management who sold shares days before Raju's infamous acceptance of fraud. By the way, that image is from Satyam website : it says : SATYAM'S EXECUTION : Ordinary people doing extraordinary Things! ..ahem..well..
2. Five Years back, at the time of US elections, Ramalinga Raju was thought to be the most feared man, greater than Osama! Today, again, Raju is feared to unveil more dirty news of untruth! For the uninitiated, let me give you a gist : Satyam reported a 28% jump in Q2 profit in 2004."It's not that they're doing anything better than competitors like [Montreal-based CGI Group Inc.]," said Forrester Research analyst John McCarthy. "They're just doing it with a different cost structure." For your information, John McCarthy is a VP at Forrester. perhaps, McCarthy was referring to false cost structure and inflated profits! Check this out http://www.indiadaily.com/editorial/11-01k-04.asp
   
3. Today, the same McCarthy states that any investor would be nervous about how much Satyam's books have been fiddled with! Well, the period when Satyam was praised for its cost structure was also included in its "fraudulent era". Did McCarthy not really examine satyam's books thoroughly before lauding its cost structure? Agreed, cooked books that even the auditor PwC "could not" trace are difficult for an analyst to identify. But these very people claim to be the best in business, so whom do we look upto now? Even before the Raju admittance, here came a Forrester research view : http://www.forrester.com/Research/Document/Excerpt/0,7211,48121,00.html
   
4. To think of it, Satyam is the very company that received the pretigious Frost & Sullivan Excellence in Leadership Award for 2008. People appreciated Satyam's Corporate Social Governance at the time. The defamed company's CSR has gone for a toss.

Well.. Let me add my disclaimer, I have no personal stake whatsoever in Satyam or any of its associated companies [read Maytas]. Which is why, perhaps, my tone is a bit mellowed down..
More on Satyam and the IT industry..soon to come!!!