Satyam has selected 2 persons for CEO, CFO post: PC Gupta

Minister for Corporate Affairs PC Gupta said the Satyam board has finally zeroed in on two people for the CEO and CFO post. Refusing to name the candidates, the minister said the two candidates had sought legal immunity. "There are cases pending in different courts [against Satyam] and they want some protection so that in case of liabilities, they are not held responsible."
Gupta also said both the candidates were not from Satyam but "from the industry". He added, "The person who has been identified for the post of CEO... has a vast experience of running large MNC and national companies in India."
Gupta also said the government need to relook at the issue of independent directors. He added that the new company bill will have civil liability as well.
Source: Moneycontrol.com

$ 1Billion of Satyam's Revenue is existing..& siphoned away!

Ref: Economic Times of India: The disgraced founder and former chairman of Satyam Computers Services Inc. used his elderly mother's name to siphon $1 billion from the company and drastically inflated the number of employees to divert funds, a prosecutor said in court on Thursday. The allegations cast serious doubt on B. Ramalinga Raju's claims that the massive fraud was an elaborate attempt to keep the company afloat and that he did not personally benefit from the scandal. Prosecutor Ajay Kumar also said Raju was involved in as many as 400 suspicious land deals in the south Indian state of Andhra Pradesh, where Satyam is based. Read the full story here

Spirit of Satyam

Friends,

Thanks for your many and many requests. Here is the 2nd part called "Spirit of Satyam" released today.

Please post your comments which has been a replica of your support to all of us Satyamites.

Thanks
The Satyamite

The Great Story of Satyam Computers

Friends,
Thanks for appreciating and responding in a positive way to my first video. I am posting it here.



Thanks
The Satyamite