Some big bad news was always on the cards from Satyam after it failed in convincing and concluding the Maytas deal. Ramanlinga Raju's reasoning was not quite convincing and probably he would have seen the deal through had he told the real reason(pun intended) for that take over and 'diversification'. Some of the questions which every common man now has :
1. After his explicit letter acknowledging criminal offence, why cant SEBI arrest or at least detain him in India. If press reports are to be believed he had flown to US from Hyd airport(He will be received by the US police is a different matter since Satyam shares are listed in Wall Street). Why do SEBI give enough time?
2.It is not Raju alone who drafted, submitted & published Balance Sheets. There are many who would be involved in finalising the 'numbers' , chiefly its Statutory Auditors and CFO at least. Why cant they be made answerable now Why is the media is spelling only one name?
3.The publc believes only the stamp of auditors and in this case the statutory auditors are the most prolific PWC. How far thier audited results can be trusted in other cases?
4.Why cant SEBI think of halting further transactions of shares if the scrip rise or fall say beyond 10% in a particular day. This will avoid major and unexpected fluctuation in a single day. This will save the company's interests too to some extent apart from many investors.
hmm...
Like many I too wish some one takes over Satyam. Wish it shines again and regains its old glory.
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