Sunday, January 11, 2009

Satyam Saga

I know a lot has been written and told about Satyam( An Indian IT Service Company ). I however feel that there is nothing uncommon in putting up false projections and cooking up order books and financial reports by companies especially the Public Listed Companies.
Having known by industry sources there is definately on an average 20+% increase that gets reported and why is there such a hue and cry over the happenings.
I feel a sence of betrayal always when it comes to the market analysts. When the markets are scaling to new highs there would be buy calls from each corner and when it falls they would say "Worse to come". Most of the panic is no doubtedly created by such or infact majorly by analysts. Why should'nt these analysts put to criminal proceedings why aint they held accountable. Where have all the analysts gone now? Its not that I have been into pounding losses or even though I would be it has been my personal choice but if people in certain professions are held accountable if people hold the govenment accountable for any fiasco why aint these so called analysts be held responsible.
Coming back to Mr Raju. I definately have a soft corner for him. May be thats because I definately feel things get cooked up and its part that everyone does and does not proclaim. Its all in the limits we can do that we do and definately nobody is an exception to it. He definately tried getting Maytas into the company and that would have been loss to his family cause it would be used to fill the shoes of the earlier loopholes.
This issue should be considered with normalcy its just the media Hype that has lead to such drastic steps. Why doesnt the media cry out and question the government when the intrusion in Poonch in J&K happens merely a month after the infamous 26/11: Mumbai carnage. The media basically is news hungry it catches and cashes onto a story till it gets the next.
Hopefully the media will get a story soon and hoping it would be something positive cause I want not more nexgativity to get Raju off the hook.
How can people forget the same Satyam that provided employment to so many families that put a smile to so many dependents. I would definately pitch in my support for Mr. Raju and would wish him good times get to him soon.

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