Maytas - Initial Private Opinion

Saturday, January 17, 2009 5:06 PM

Satyam - Board minute gems

Stop press - update : Minutes of the audit committee meeting of Nov 2008 satyamAudit.pdf (don't miss the World Bank misrepresentation on pg. 8/9) The Satyam Board of Directors' meeting's minutes of the infamous 16th December 08 are out and...

Posted by Sandeep Parekh | 2 comment(s)

Tagged in: SEBI, independent directors, minutes, Satyam, Maytas, Raju, Ramalinga, fraud, Board of Directors

Sunday, January 11, 2009 7:59 PM

Satyam I - what likely happend

In my FT piece , I discussed what was wrong with the story of the Raju confession, rather than what may be the correct story. Clearly, no one except those who carried out the fraud would likely know the story. Here is what may have happened as pieced...

Posted by Sandeep Parekh | 1 comment(s)

Tagged in: SEBI, independent directors, Satyam, Maytas, Board, Raju, Ramalinga, fraud, crime, SFIO, audit committee, MCA

Thursday, January 08, 2009 10:04 AM

Satyam - introduction to series

I'm going to run a series of pieces on Satyam - please ignore the series if you have had more than your fill of the issue. As more facts seep in, I will keep updating the series as new facts are unraveled, recall, there are very few facts in the public...

Posted by Sandeep Parekh | 6 comment(s)

Tagged in: SEBI, independent directors, Satyam, Maytas, Board, Raju, Ramalinga, fraud, crime, SFIO, audit committee, MCA

Wednesday, January 07, 2009 11:21 AM

Satyam - couldn't get worse?

Whoa, big news on Satyam - Ramalinga Raju has confessed to his Board to 'cooking the books' for the past several years. The scale is breathtaking - witness actual operating profits for Sept 08 quarter is Rs. 61 crores ( Rs. 610 million); while...

Posted by Sandeep Parekh | 7 comment(s)

Tagged in: balance sheet, Satyam, Maytas, fraud, financial fraud, Ramalinga Raju, inflated profits

Wednesday, December 24, 2008 2:25 PM

Satyam - from storm to maelstrom

Just when you thought, things couldn't get worse for Satyam Computers, they do. The Upaid lawsuit in Texas, US, seeking over a billion dollars in compensation and also punitive damages (BTW, Texas is famous for giving fantastical awards in punitive...

Posted by Sandeep Parekh | 2 comment(s)

Tagged in: SEBI, Corporate Governance, independent directors, Satyam, Maytas, Board, directors, fraud, world bank, bribery

Saturday, December 20, 2008 11:14 PM

Lawsuit against Satyam for over $1 billion

For those very curious and able to digest legalese, I was able to dig out some court filings in the Texas court by Upaid against Satyam Computers. The suit could result in upto a billion dollar recovery for Upaid. Here are the alleged facts of the case...

Posted by Sandeep Parekh | with no comments

Tagged in: Satyam, Maytas, Eastern district of Texas, Upaid

Thursday, December 18, 2008 12:14 PM

Satyam Board - thy name is mud

Seems we were all barking up the wrong tree - rather the wrong shrub. There is something far more sinister which has occurred in the self dealing proposal. This is based on a CNBC report I saw yesterday which does not seem to have seeped in at all in...

Posted by Sandeep Parekh | 3 comment(s)

Tagged in: SEBI, Corporate Governance, independent directors, Satyam, Maytas, Board, directors, Raju, Ramalinga, fraud

Wednesday, December 17, 2008 8:04 AM

Satyam - name and reputation are upside down

The story till now in brief: Satyam, one of the leading software and BPO companies of India declared yesterday (16th Dec) after market close that it was planning to buy large stakes (100% and 51%) in two promoter companies. Maytas and Maytas Infrastructure...

Posted by Sandeep Parekh | 8 comment(s)

Tagged in: SEBI, securities, Corporate Governance, clause 49, independent directors, Satyam, family, Maytas, Board, directors, Raju, acquires, Ramalinga, illegal

Initial Private Opinion

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