Dienstag, 6. Januar 2009

B. Ramalinga Raju:

"It was like riding a tiger, not knowing how to get off without being eaten."

B. Ramalinga Raju, CEO and Founder of Satyam Computer Systems, India, after he admitted to have presented a ficticious cash balance of >1 bn. $, had overstated profits for the past several years, overstated the amount of debt owed to the company and understated its liabilities.The stock price of Satyam plunged 78% in Bombay and was exempt from trading in NY on the news. Satyam is the 4th largest infotech company in India with global customers like Nestlé, Nissan and GE.

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