Initial Private Opinion : fraud

ICICI - come here and sue me

Sandeep Parekh — Sun, 12 Jul 2009 11:55:00 GMT

It seems ICICI Bank has sued a senior officer of HDFC Bank for saying that it tries hard to avoid recruiting ICICI employees because of its aggressive culture. I have written several posts about the crooked and hopeless culture of ICICI bank in the past...(read more)

Satyam - Board minute gems

Sandeep Parekh — Sat, 17 Jan 2009 11:36:00 GMT

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...(read more)

Satyam I - what likely happend

Sandeep Parekh — Sun, 11 Jan 2009 14:29:00 GMT

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...(read more)

Satyam - lessons for India Inc.

Sandeep Parekh — Fri, 09 Jan 2009 10:19:00 GMT

Here is a piece I wrote for the Financial Times Op-Ed stating why we should not believe the confession letter. More importantly, I think this event will impact the reputation of corporate India. India Inc needs to clean up its intestines to remain trustworthy...(read more)

Satyam - introduction to series

Sandeep Parekh — Thu, 08 Jan 2009 04:34:00 GMT

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...(read more)

Satyam - couldn't get worse?

Sandeep Parekh — Wed, 07 Jan 2009 05:51:00 GMT

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...(read more)

Satyam - from storm to maelstrom

Sandeep Parekh — Wed, 24 Dec 2008 08:55:00 GMT

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...(read more)

Satyam Board - thy name is mud

Sandeep Parekh — Thu, 18 Dec 2008 06:44:00 GMT

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...(read more)