Satyam Scam hits the market hard
Posted in Corporate News, Internet on January 7th, 2009 by sunshine – Be the first to commentChairman B. Ramalinga Raju’s admission that Satyam Computer Services Ltd’s (India and also listed in the NASDAQ) Balance Sheet was completely fabricated got the stock crashing down by 66.5 per cent to Rs 60 from Wednesday’s high of Rs 188.70. We feel this is the start of some serious regulations being brought in by the SEBI. The Indian companies don’t regulate themselves as strictly as their western counterparts and I think Raju has done the public a favor in this regard. read more »
