Most of you must have read / heard about what all is happening.
Imagine... the big numbers he is talking about... How did he have courage to take up all this? His letter is just terrific. Talking about such things so casually.
Just see this
"The gap in the balance sheet has arisen purely on account of inflated profits over a period of last several years "
"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 the company operations grew significantly "
"That in the last two years a net amount of Rs 1,230 crore was arranged to Satyam (not reflected in the books of Satyam) to keep the operations going by resorting to pledging all the promoter shares and raising funds from know sources by giving all kinds of assurances"
And everyone's favourite
"It was like riding a tiger, not knowing how to get off without being eaten. "
Giving a wrong figure of some crores in Deposit and then taking account of interest on these deposits which don't exist. Oh! How could he do so much?
Talk about guts!
Pity people who are affected cos of trusting a company which existed for over 2 decades and is the top 4 IT company with such a huge workforce.
Like the comedian Vadivelu says, "Puthusu puthusa yosikkaraanga..."
