I wish to share my views on Sathyam Computers and On Mr Ramalinga Raju.
He founded Sathyam Computers and was its Chairman until January 7, 2009 when he resigned from the Satyam board after admitting to corporate fraud and cheating six million shareholders, some of whom have lost their entire life savings. Sathyam was until recently perceived to be amongst the top Indian IT vendors. Mr Raju has admitted to overstating the company's cash reserves by USD$ 1.5 billion. Later, a person involved in the investigation of the company said that the company's assets were not inflated, but instead siphoned off by Ramalinga Raju. Raju is currently held in Hyderabad's Chanchalguda jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading. He was hospitalized in September 2009 following a heart attack.
Mr Ramalinja Raju himself boldly accepted/admitted what manipulation he has done openly to the software company headed by him.. Our Purana's says that one should have courage to accept openly the mistakes that can be excused if that particular person transforms realizes the mistake what he has done. .Here I am not saying to do this to Mr Ramlinga raju but one has to consider certain genuine facts also….
What he has done to the company and its employees:
1.It is known fact that he has given employment and life to more than 50,000 employees and every one has happy with the company and most of them are continuing the same with present Mahendra Sathyam.
2. He has set the international standards to the Company and earned the name globally.
3. He might have spent sleepless nights and his complete life to bring the company to International fame and even for the benefit of his employees. He has received honors from National and as well as from International organizations.
• Ernst & Young Entrepreneur of the Year Services Award 1999
• Dataquest IT Man of the Year Award 2000
• Asia Business Leader Award 2002
• Ernst & Young Entrepreneur of the Year 2007 (revoked)
Golden Peacock Award for Corporate Governance 2008 (revoked)
Byyraju Foundation: Mr Ramlinga Raju was the the founder of the Byyraju foundation and it is doing yeoman services in agriculture, education,Rural villages Betterment, Safe drinking water and Sanitation Environment and many more activates….
Around 350 employees of Byrraju Foundation, a non-profit organization founded by the family of tainted ex-promoter of Satyam Computer Ramalingam Raju, have quit since the multi-crore rupees scam surfaced in January.
The Foundation now has 850 people on its payroll, down from 1,200 immediately before the scam came to light, Byrraju Foundation CEO Jacob Verghese told PTI.
I would like the appreciate the State and Central government the initiation they have taken within no time they set the company in right order and The Company has taken over by Mahindra Sathyam . The Mahendra Sathyam Management infact openly said the present Sathyam staff or the best and they can be an asset to any organization.
I have questions like …………..
1. All the software and reputed public limited companies are following the rules and regulation as per the companies’ laws? Is it only Mr Ramalinga raju of Andhra Pradesh has not followed the company rules and regulations.
2. Has he has not concern the people of entire India nor he has not done any yeoman services?
3. Who has initiated the concept of 108 ambulance (Rajeev Arogyasri) and in fact has has saved the lives of few thousand may be more….
4. To build any organization and taking in to International and National reorganization is not an easy task and one has to appreciate the efforts of his team and in particular Mr Ramalinga Raju.
Investor’s :
This is my Personal Observation.
1.Most of the People keep in shares to earn money ,mostly above middle class and rich people only invest in shares knowingly what is going to happen to their shares .
2. Investing in share is one type of gambling only and it is known fact to every one.
3. If Mr ramalinga raju has duped millions of people directly or indirectly and the government and the judiciary has to sell all his properties and distribute among the investors.
4. Why it is taking such a long time for proving the charges on him.
5. Our judiciary is strong and every one has respect on this system. I strongly feel that they have to do this an urgent basis.
The government has approved a special judge and a separate Court to speed up this case. I appreciate the efforts of Central Government Particularly Mr Manmohan Singh the Prime Minister of India and his team members and the Sate Governments on delicate issue.
Finally I say we have to remember the sacrifices he has made to bring IT company to International Standards, We are human beings knowingly and unknowingly we make the mistakes. One should not see him the negative aspect of him always. I am not belongs to his Software Company nor I have any kind of association also I am an ordinary person like others I wish to share my observations and not to heart the feelings of the investors as a whole.
