Heritage Walk

00:15 hrs 22 january

well i Have completed 7 months of my engagement life..... And it has been as good as i have not thought of .... i was writting artcile on Satyam saga on my blog and am really iritated with googles facility of this editor which doesnot suit me at all ... well leave it ... i know i have not written some extra ordinary article but have tried to do my job in a better way and can say for sure that this writting stuff is way too tuff then it seems to......... chalo my sleep is gettting toll on me .... good night sweet dreams ...... shabba kheirrrrrrrrrrrrrr

aSatyam nor Shivam nor Sundaram

For Info on Satyam click here

16 December 2008 was the date when things started changing for mr.Ramalinga Raju (read Raju family). On this day he proposed a plan to acquire Maytas infra and Maytas properties. The two companies owned by his Sons’. Well the deal did not click, and it turns out to be a sour experience as the acquisition was planned to be of $1.6 billion. The amount was way too high. Though the board of directors had initially thought to go for it (which is questionable in itself). Later on due to prompt interrupts from investors the deal did not succeed.....this proved to be a massacre for Satyam’s share and there was bloodshed in the market with satyam's share falling 55%... The role of ICICI was questioned as it was holding shares of Satyam but did not questioned the deal ...this unleashed reign of problems for Satyam as it got in vigil eyes of Sebi

 This was the very day from which Satyam's share never got up they fall day by day and on the 7 January 2008 they sank very deeply...and the last rate they saw was 23.85 rs (180 before scandal broke) On 7 January Raju sent a sorry letter and went for seclusion his letter stated

 

"What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualized revenue run rate of Rs. 11,276 crore in the September quarter of 2008 and official reserves of Rs. 8,392 crore). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten.”

Analysis of Letter

"What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years...”

 Raju has done misappropriation of accounts in last 8 years and off course this must have involved the Accounts PricewaterhouseCoopers (PwC) who are auditor for Satyam . And in reality it was not only gap related to accounts of this status rather it included massive misallocation of investors money into personal use of Raju (read Raju family ) . A lot of money was invested in properties; Raju family was always close to people at helm. This lead to big contracts for Maytas (Satyam spelt backward) duo which included government contracts which always needs lot of thread pulling. Thus the gap started in Accounts the money which was shown in Balance sheet as investment with banks later on turned to be with Raju and family ...Now as the light is on Raju family many of there scandals are coming to light which makes us feel that all the acquisitions done by Raju earlier were also not fair they always lead profit to Raju family by making losses for Satyam investors. Even in times of great despair Raju’s book had always shown good profits which now turns out to be fake.. These statistics got Satyam very good project(It serves over 654 global companies, 185 of which are Fortune 500 corporations. ) and its share were of good value for the investors. Satyam was always considered as a Safe place to invest. These fake books are one of the reasons that Satyam got so BIG in its capital status( on papers only proved out later in course ). 

.” It has attained unmanageable proportions as the size of company operations grew significantly (annualized revenue run rate of Rs. 11,276 crore in the September quarter of 2008 and official reserves of Rs. 8,392 crore).”

It did not have even 8k crore which raju said ….. Unmanageable is not the correct word I feel its unimaginable how he somebody do a Scam of this Unthinkable margin…….Still it is analyzed. People predict more is to come……... 

''As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. ''

 In this regard Raju said later that the promoters did not had any idea, which is false as they reduced their share in the company from 35% to 7% (even this 7% is skeptical). So acquisition which he feared (so to say) was very evident and it still seems a possibility as government is not in mood to take care of Satyam for long. The clients of Satyam are high profile and when Satyam will be in market for sale it will really fetch high price, so the discredited Raju was correct in this forecast of heavy clouds . 

.” The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones”

 Raju thought that befooling Maytas investors is easy so he thought of acquiring Maytas at $1.6 billion , and trying to make his fake books real as then he knew that he had never to pay 1.6$ billion . As in reality there was no money ………. So it was never to be paid…

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

I consider his tiger to be Greed,  he was blind in Greed of money and power which never came to an end and at last on 7 january he had to come to stop .... 

 

Remember The Titans

AWESOME!!!!!!!!!!!!
yes its the first word which pops into your mind after watching this movie...

REMEMBER THE TITANS the movie is a movies based on sports,racism,youth ..........

and its a wonderful blend of all the stuff put together...........its all fun though movie is not a action or comedy flick its a drama but not a serious one........though movie is based on real story but at no point one feels bored ....and prsonally i have seen it twice in three days,so u can trust me on this one and go for it

12 may 2008

Well yesterday's night was a night mare.....i was having withering pain in my stomach and then was having high fever, ate almost every medicine i could have laid my hands on .with a panic MOM by my side and frenzy friend with some medicines i was waiting eagerly for relief which was no were in picture before 4 am when i realised that i am back as a human being .And how can i forget my father who was walkin in my room after every 15 mins checking that how am i feeling??.chalo wese now i m feeling good ...........

Mothers Day

Well what can i say ...........actually i have never been a ideal SON ....so cannot in real sense enjoy the festival in itself..though i thought of bringing soem gift to my home but .....the million dollar question was what to bring for the lady who has always given what I wanted and even today i dont knwo her choices????i ont know her favourite colour nor her fav fruit ........in general i can say i dont her FAV's list ....so i just wished her and she acceted the greetings and did not answer ..so here goes one morebeutiufl moment to cherish down the drain............

10 may 2008

Well after a long time i writting again.......last time it was october 07
saying frankly relations have changed since then with some sour realtions got sweeter an with some sweet got more sweeter.........without getting in much personal talks ........
i have stope dgoing tp horizon as exams are popping up next month .from 2 june to 12 june ........after that lanning tod o some cousres like ORACLE and JAVA lets see
right now focus is on exams thats alllllllllll......