Satyam story, I forgive Ramalinga raju

Well, Its a FY of declining IT infrastructure. There goes every IT employee with the fear of being Laid-off.

So wats hot Today ? It’s Satyam’s fraud of 7000 crores ($1.4 billion) fraud considered to be plotted by Ramalinga Raju, CEO of esteemed Satyam computers Ltd. Raju had sent out an email in which he claimed all the disputed amount which included revenue differences of 670 crores (20%) and 1230 crores that he had invested out of his pocket.

Consider this, You are CEO of a startup company started as computer vendor in a garage. Slowly you build it block by block, cementing it with industry standard. You hire people with non-IT background, you train them to best in industry. After 20+ years you own a $2Billion+ company with 50k employees.

AND all of a sudden you see UNIVERSAL slowdown because of  recession. Your company starts getting losses. Unfortunately its more than what industry is. You don’t get enough projects as much as your employee strength needs, to keep them all busy. You have no choice on laying-off.  You want to maintain your reputation: Your market share, your market value. You play a trick, Tamper the Quartlely balance sheet (which almost all companies are doing these days) for the first time and see a little less burdened. Next quarter you still don’t have enough work coming in, not enough revenues to drive you where you wanted to be. You again keep up with good quarterly results to increase investors interest awaken. Each year it becomes harder for you to keep up with differences. And all of a sudden your premier client dumps you coz few of your employees stole some confidential data. You are gone.

Company loses impression in the market. Shares fall 30 % within a single day. At this point of time what would be the best way to proceed further?

1. Let the company go as it is till it goes bankrupt.

2. you take all the blame on your shoulders of so called “Fraud” of tampering all the balance sheets and let your company live.

If you are stupid you choose path 1 and endup bankrupting the company. You tried to hide your mistakes but all of a sudden all came in front of whole world. You are a non-humble thief!

If you go by the 2nd, you lose your market value, your company’s share fall 80% in a single day. And government tries to arrest you and you have to go underground for few days to avoid the drama that media will create.

Go for path 2, and gain respect. Show the world that you are humble. and you will win sympathy of atleast few like me.

I dont even want to call this a fraud!!!

Its pretty justified, and I am convinced by his acts. Leave your comments.

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  • akshay

    well written. Totally agree with you.
    Rama did his best, it was just the situation

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  • rahul

    awesome!
    We are wid u raju!

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  • Rama

    Superb!! totally agree with you. It’s time to show some gratitude towards such a guy who stood a symbol of the Indian IT industry and who fed thousands of people directly or indirectly for the past two decades. In my view, despite the so called ‘scam’ he stands far far far higher in morality when compared to our dirty politicians who feed themselves with such thousands of crores. The media should better concentrate on such people.

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  • Dr. Jagmohan

    You have good ideas for him. If he survives through crisis he should appoint you Vice President.

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  • Nidhi

    Well Said !!
    Seeing the present dangerous international situation,I do agree with what Raju has done.

    The unpleasant situation of having to choose between two evils, as mentioned by Taran perfectly, he did make the right decision.
    Although, he is in tough times now, but no human situation is simple !!!!

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  • manpreet

    India needs true heroes.. he was one of them.
    Im proud of such leaders

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  • I wouldn’t be surprised if this guy is awarded by the UN or any other international body as the most honourable person of the year. He’s a true hero.. He is an inspiration for many business enterprenaurs around us (if that’s the way to spell it lol).

    When I flipped the news channel, I saw all those blady sucking politicians.. who’s corrupted faces could very well be identified (hope im not over-exaggerating) God knows how much money they’ve saved for their great grand children.. donno if they gonna see the world at all! with such drastic current affairs going on.. I suspect the world is gonna be over soon.. !

    BACK TO THE POSITIVE – I must admit this is one of the greatest blogs I’ve ever read. Extremely well written bro! Big ups to the big man for all this work 🙂 And lets not end supporting the greater man – Mr Ramalinga Raju for showing us the light.

    Cheers
    Maheep

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  • Nitin

    Rightly said….Sometimes we have to adopt some ways which are not morally or ethically correct but by adopting those ways, one industry or even one economy can survive…Then i think that ways or measures are not wrong !!!!

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  • lavanya

    Well said

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  • Rahul

    very well written,Taran……… May god help him to stand up tall even in this situation also.

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  • Rian

    I dont understand the nuances of the finance world but if what has been written is true, then I totally agree with you.

    Would it be too much to ask all the employees of Satyam, members of the India Inc and the rest of the nation to pool in as much money as possible to help Mr. Raju tide over this crisis ?

    Whats the point in sending sms to honor the martyrs to TV channels to express our solidarity with the fellow brethrens when the only people who benefit from it are the TV folks ?? Instead, I believe, if we all got together now and pooled in as much amount as possible to help Mr. Raju cover up for the deficit amount, it would not only help save Satyam and hence the careers of 50k folks but also send a strong signal of unity and brotherhood to the whole world that there is more to corruption and poverty in India even in these times of financial meltdown.

    But then, I am just a lay man and stupid than the more reasonable men who walk the corridors of power and decide our fates.

    Wish, we could all do more than just comment on the various issues plaguing our times.

    Regards,
    Rian

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  • varsha

    I don’t no y bt I still have faith in Satyam. I wanna c a miracle for it. All the best guys.

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  • Vishal

    Well Said Taran.

    Worth Reading only…..

    You know what had happened and what it will result in.
    Even then Raju stands apart in it.

    Godspeed,
    Vishal

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  • BB

    All Satyam employees should support Ramalinga raju and should write a signed letter to President of India that whatever he has done is for employees and also for this country. Satyam is getting business from other country so employees are getting higher salaries and so they are able to pay 30% taxes to India Government. Just calculate how much tax government received from Satyam in 20 yrs.

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  • Nav

    Well there are two v.imp aspects which you have overlooked while posting the story.

    1. While the recession is about a year old, Raju was doing this for several years. IMO this was the ambitious plan to go faster just faster and recession story is no excuse for this.

    2. Many common civilians have suffered, their money eroded, all ‘coz of Raju’s actions (irrespective of his intentions). These people ivested directly, indirectly (via MFs etc) into satyam, because they saw a tremendous potential, because the (cooked-)books reflected so. To put it in right context all these people have just been plainly and mercilessly betrayed. Beyond that he pushed the employees’ future into uncertainty and that too in bad times.

    Irrespective of Raju’s reasons/intentions, I strongly stand against him. An irregularity which has such a negative impact on the masses, should be punished.

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  • Saf

    Hei Taran I appreciate this blog. Well you are right, Raju is undoubtedly one of the humblest persons in this world. Its need a lot of character to take the responsibility all alone for this scam and to surrender himself before the laws of the land.
    Well Nav, as you said Raju was facing this crisis for several years but if there wasnt any global recession at this point of time, may be he could have lift the compnay out of crisis. He must have thought of some plans to come out of it but suddenly the entire world was doomed into the financial crisis. Even the giant american financial companies couldnt resist the situation and were bankrupt. At this juncture, he had no other way, so its not right to say that he have made the civilians suffer.

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  • Sowmya

    Very Well written …….
    God should help Ramalinga Raju for what all had happened…….

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  • Sowmya

    Well written may god help Ramalinga raju for what all had happened….

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  • diksha

    i agree and strongly support my former CEO..
    i am a satyamite and will always be proud to one

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  • SRINIVASA REDDY

    Well said,
    “When one man can create Satyam as an organization of 53,000 people, why not 53,000 committed people can rebuild one SATYAM?”

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  • Manoj

    We are part of satyam family and will always be there with Ramalinga Raju and satyam…..Proud to be SATYAMITE

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  • nagarjuna

    good line of thought….
    may the tiger he rode take him to good destiny

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  • Suneetha

    I do give my strong support to Mr.Ramalingaraju who had put his hard earned money in the company to payout the salaries for the employees.We should really appreciate his honesty .

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  • nice to see a different perspective on the story – but still – instead of tampering year after year – he would have been better off if he was honest. an M&A might have also been a better option

    no?

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  • What ever he did it’s for our country growth and our people growth. Especially being an telugu guy it tried hard fro his best to in the part of telugu people growth.

    But unfortunately what ever he did in some cases the recession not supported for his action.

    We should have to support him otherwise no one come forward to do some thing for indian people in coming future.

    Thanks,
    Varma

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  • Ganesh

    He did the best as he can to accumulate company & all employs .

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  • Ajit Kumar

    Rubbish! You ask those 53,000 employees of Satyam, if they are ready to forgive Ramalinga raju.

    Preaching is so easy when you are not part of the mess.

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  • jayanthan

    I dont agree with this.
    A Thief is a thief…whatever reasons maybe. Every person who commits crime, does have a story of his/her own to tell. That is not an excuse for the crime committed.

    If he has given jobs to thousands, it is because he was in business and he was making money out of it. No sympathy for this white collared thief.

    And please stop making this person a hero.

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  • Anji

    I totally agree with you. He is not man he is just like god for the peple for last 25 years who are worked in satyam.

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