The "Mithya" story of "Satyam"...

Well, "Satyam" has been proved to be a big "Mithya" (lie).. it has been a shocker from the Indian fourth IT major. The revealing facts are scary. Hopefully Satyam is just one of the case. Now the investigation will start.. During investigation, if some other company will be found with the same charge then the IT image of India would be in turmoil...

We have been hearing of the Satyam scam for past 2 days.. How did the company collapse in just 1 day? Let us try to understand how did it all start...

Let us understand this by taking a small example..
Suppose the company is making a profit of Rs. 100 in one quarter.. Mr. Raju manipulated the accounts to show the profit as Rs. 1000. So, Mr. Raju inflated the accounts by Rs. 900. By showing huge profit margin, Satyam was able to attract a lot of investors and a lot of clients in a very short span of time.. So, Satyam did all its expenditures assuming it has got Rs. 1000 (but actually Rs. 900 was missing)... In this process the vacuum kept on increasing... and suddenly one day the company has no money to pay salaries to its employees..

A lot of my friends are working in foreign countries for Satyam . I don't know what will happen to them.. Most likely they will not get their salary for Jan 2009 and it may so happen that they have to buy their return ticket (to India) on their own..

Now the Indian Govt is in action. So hopefully, some private firm will take over the company and all the 53000 employees are saved.. It's very unfortunate to hear the "Mithya" story of "Satyam"...

Thanks,
Srimaya Rath

Comments

UHAULing.... in US...

In this blog let me share my experience of shifting home in America... You have to do the following activities for shifting your home... 1) Buy the card board boxes and pack your stuffs on your own... 2) Rent a truck to shift your stuff from one place to other and you have to drive that truck on your own. That truck is provided by a company called UHAUL. 3) Place all your stuffs inside the truck on your own. So, you have to carry your sofa, bed etc on your own. Therefore, you have to be a body builder to do all these activities. Remember, here there is no human labour to help you out. If you are hiring human labour then be ready to pay a hefty amount. 4) OK... All the stuffs are now packed and placed inside the truck. Now drive the truck on your own. 5) Reach the destination. 6) Unload all the stuffs.... Again on your own... 7) Return the truck to UHAUL (company) and pay the rental... 8) Your shifting is done... Cool..... That's how you have to live in USA. So, life is very easy he

Chase your passion...

Do you have some passion that you always wanted to do since your childhood??? Yes, I know we all have.. but we don't dare to chase it.. Because in India, we think only doctors and engineers are well respected in the society.. Hence, at any cost we have to become either a doctor or an engineer... Therefore, if you want to become a sports person or a singer or a dancer or a writer etc.. it's not allowed.. So, you sacrifice your area of interest and succumb to the pressure from society and put all your effort to become what your society want you to become.. Ok.. Now you have lived all most half of your life.. and somewhat successful (in career) by seeing your current stature..Your half of the life has gone by... in fulfilling other's wishes and their dreams.. Suddenly you realize that you have never lived for yourself.. I think this is the best time to invest on yourself... to chase your own passion.. to do something that you always wanted to do... I know we all are living a r

A way to give back...

Giving back to the society??? This sentence sounds a bit odd.. Yes, because we always believe in taking from the society... and we have taken it for granted that we'll always take from the society... Since our arrival to this beautiful world, we have taken almost everything from the society... It may be good education, good job or a safe and healthy society... and we assume that building a good society is the responsibility of Govt... Yes, you are right.. however, our country is a developing country.. not a developed country... Govt is doing its work at its pace... and since our country is one of the most populous country in the world, a lot of unprivileged people are there in the society.. unfortunately they are deprived from everything... they also don't get their basic school education... That's why the role of privileged people become very vital... Under current scenario, all the privileged people should raise their hand to support the unprivileged people.. We may argue

WORLD OF SRIMAYA - "Everything is pre-defined.."

Search This Blog