The Satyam Fiasco : CBI Enquiry; Funds Diverted to Maytas

My suspicion and belief that the profits from Satyam were diverted to Maytas were confirmed when TOI reported a huge trail leading to the siphoning off of funds. I has mentioned in my earlier post that diversion of funds to Maytas was highly possible. The same sentiment was shared by many in the financial circles as well.

The AP Government will as for 'forensic auditing' of Satyam accounts, and thus, bring the CBI in picture. I hope the process doesn;t get caught in the legal time-warp that Indian judicial system is so notorious for.

And as for the Save Raju mails, I doubt they will stop. I doubt that the stupid freaks at my office would have a change of heart and realise that they have been taken for a ride. I know, that the miniscule brained masses at Satyam would still revere Raju as a demi-god. 

Just watch this space, I'm sure my fellow Satyamites would not betray their feudal-age reverence of the 'job-doling-Raju'.

The Satyam Fiasco : CFO Arrested

The CFO, V. Srinivasan had to take time out from being 'at home', and be arrested for the fraud. He, amongst the battery of co-conspirators would be answerable to the investors, the shareholders and the employees. Raju's statement that he alone was responsible for the fiasco is like saying that Hitler was responsible for the genocides, and that his deputies had no idea that they were targeting the Jews. 

And the worst thing is that the people are believing it as well.

Mr. Raju's parting letter portrayed him as a saint. 'The Maytas deal was the last attempt to set the record straight'. My colleagues are intrigued by his generosity.

Guys, wake up! He did this to save his own sorry ass! He knew that his greed had led him to this state, and he had to do something desperately to cover up the gaping hole in the books. We wouldn't be facing this situation had the company guidance taken a hit for 3-4 quarters on the trot! After filling the gaps, the company could have come out stronger and better! But that was not to be.

I am not surprised if the investigations reveal that money was diverted to Maytas and other entities.

Accountability was missing at every step!

I would urge the new board to bring in a high level of transparency. If a subordinate sees that the billing rates are being fudged beyond limits, the cat must come out the bag.

The Satyam Fiasco : The Ass-Licking

One of the numerous SMSs sent by my office-mates:

(Non-verbatim) All of us, the Satyamites, should stand together and work for the company. We should put in pur best efforts and maintain the highest levels of work ethics. Pray for Raju...

I stand by the thoughts in the SMSs above, but not entirely! Work must go on. That is for sure. And there should not be a case where the client feels that the work quality has gone down. I, for one, am putting in my 10 hours into the job.

But I can't digest the last line. Pray for Raju...? What for?

The people have to realise that it's the company that has provided them with jobs, not this person you are idolizing. Why must I pray for him? Did he think of me when inflating the records? Did he think of me when he was minting money by the millions? Why in the whole fucking world must I pray for him?

Guys, open your eyes! This guy has fucked you in the behind! He could have filled the 'gap in the books'. But he did not. Why? Because he would have 'lost the control of the company and a takeover would have been imminent'.

You are eulogizing a person whose greed has made you insecure about your jobs! I reiterate, it is the organization that gave you the job, not that guy!

For God's sake, come out of the feudal mentality that gives a demi-god status to the owner of the company! Have some self-respect! You are here because you have it in you.

Numerous mails end with 'Save Raju'. Bull-shit! absolute crap! 

One of the guys had written : 'I was fortunate enough to meet him during my ELTP (training) days. He is a very soft spoken person and cannot commit such a crime'.

Wow! I mean, how naive could you be, mate! Jack-the-Ripper was also soft spoken! (I admit, inappropriate comparison)

Guys, stop the ass-licking, please. I feel like being slapped in the face whenever I read a Save Raju plea.