Satyam Chairman and MD Resigns

Thad E Ginathom · 12th January 2009, 23:07

That is going too far: even the nastiest, filthiest, most ruthless and violent criminal is entitled to be represented by a professional lawyer in the court.

If one holds it against the lawyer for taking the job, then that is interfering with the workings of justice and democracy.

Technocrat · 12th January 2009, 23:32

Quote:

Originally Posted by BaCkSeAtDrIVeR

He has done far more damage to our economy than that Kasab/Kasav guy.

I cant imagine I am reading this, how can you even compare these two men.

Proxima · 12th January 2009, 23:50

Quote:

Originally Posted by BaCkSeAtDrIVeR

He has done far more damage to our economy than that Kasab/Kasav guy.

What was that again?

lambuhere1 · 13th January 2009, 12:41

Recd this in mail

***********************************

Raju Raju sat on the wall
Raju Raju had a great fall

Balance sheet died
Shareholders cried
Raju Raju made a fraud

************************************

Raju Raju
Yes baba
Cheating us
No baba
Telling Lies
No baba
Open the balance sheet
HA HA HA

diabloo · 13th January 2009, 12:45

If Kasab or Raju, if they don't get a lawyer, they walk free - because nobody can be convicted without trial.

Quote:

Originally Posted by BaCkSeAtDrIVeR

He has done far more damage to our economy than that Kasab/Kasav guy.

How come nobody throws stones at those lawyers' houses?

TCS gains on Satyam's faults:World Bank gives much of Satyam projects to TCS

Thad E Ginathom · 13th January 2009, 13:46

Yes, that is what we have to fear; that the system will be influenced and manipulated, justice will be contorted, and that nothing will happen --- at least for years.

diabloo · 13th January 2009, 13:55

"With Ramalinga Raju behind bars, the focus is now on elder son B Teja Raju, who industry senior think may not be able to deliver at Maytas. But he is the son, many believe led his father to disaster."

"The market buzz is that although papa Ramalinga Raju was sold on real estate, son was even more crazy about it. He used to press his dad to foray deeper into the industry and would often use the services of mom Nandini for that purpose."

Recalling Maytas Infra's biggest deal ever, metro rail, a source says that an industry senior was trying to explain to Teja Raju how the financials of the deal were not logical. "But he seemed so well tutored that nothing made sense to him," he says. "He does lack maturity," the source adds.

Son pushed Ramalinga Raju deeper into realty

BTW, Teja Raju drives a red Ferrari.

appuchan · 13th January 2009, 13:58

Quote:

Originally Posted by diabloo

If Kasab or Raju, if they don't get a lawyer, they walk free - because nobody can be convicted without trial.
...

Not sure if this is correct. I dont think a lawyer is mandatory to fight a case. Every person has a right to defend himself, if required. Afaik, the problem arises only if the person do not want to fight himself and asks for a lawyer. Or maybe its different for criminal cases.

kbalii · 13th January 2009, 14:48

There seems to be a lot of discussion but does anybody know how deep the rabbit hole goes?

Will satyam employees be employees for time to come? Who is the new management? Govt of India?

sbasak · 13th January 2009, 16:19

Don't forget guys that it happens in many companies - Satyam case simply came to surface.

BaCkSeAtDrIVeR · 13th January 2009, 18:50

Just to clarify -

1. I stand by my statement - "Raju's actions have caused far more damage to our economy than the Mumbai attacks". The damage to the exchange - the careers of the several employees - (remember the Infy stand on hiring Satyam employees?), their future, they earnings, etc. Of course, the Satyam incident and Mumbai incident are as similar as chalk and cheese. And "national economy" != "national security".

Most of you will disagree on what is more damaging; but let us agree to disagree on that. Please see that statement different from the legal representation part.

2. I am a staunch supporter of legal representation for all accused - if you followed the Mumbai attacks thread, I have made by stand clear - it is a tragedy if we deny Kasav legal representation.

3. I was being more sarcastic when I mentioned about throwing stones at lawyers' housees. Of course, Thad, Technocrat and proxima are entitled to take my post in isolation (from the Mumbai attacks thread, that is).

Here is what I assume is the situation on the "25 lawyers" story.

A prosecution gets maximum press when it is new. Lawyers know that and want to be known as the "Raju's lawyer". Hence, they will actually volunteer (often free of cost) to appear for the accused in sensational cases at the initial stages.

In Kasav's case, if it were not for the bar association's decision and attacks on lawyer's houses more than 25 lawyers would have volunteered to appear for him.

A well known senior lawyer appeared free of cost for the assassins of a former Prime Minister. He was expelled from his political party (a radical rightist one). The gentleman later went on to become an MP and later, law minister.

Ram Jethmalani, if you are wondering who that was.

He also claims to be the person who drafted the lawyer's code of ethics. (he raised this claim when he was accused of being unethical / anti-national when he appeared in the Mrs. Gandhi assassination case). If you recall, the shooting was captured on camera, and Jethmalani's remarks were "not even a dog would have been hanged on that evidence".

diabloo · 13th January 2009, 23:34

Looks like Govt will bail out Satyam - Govt plans Rs 2000-crore financial aid for Satyam

If US Govt can bail out its auto industry, then why not India its IT?

Or does it set a bad precedent?

jassi · 13th January 2009, 23:54

Quote:

Originally Posted by diabloo

Looks like Govt will bail out Satyam - Govt plans Rs 2000-crore financial aid for Satyam

If US Govt can bail out its auto industry, then why not India its IT?

Or does it set a bad precedent?

i don't see how we can draw parallels between the two - satyam is not hit by recession like the US Auto industry, its the satyam top mgmt that has screwed up while siphoning off money. Without drawing any parallels, to US auto bail outs, I do understand that its important to bail out satyam to save the 53000 jobs, the business it brings to India, and the image it has set in the past for the Indian ITS industry (as well as Hyd, AP)

ECM · 14th January 2009, 00:58

Bailout gives wrong signals,check Dow and Nasdaq after bailout packages.If business model of Satyam is good it will recover of its own,if this is not the case no one can save this company,write down my words.
One should check its main inflaw area of income,me not from in I.T but Satyam's major two clients are from US,one is telecome major and another is multi divison company and other giants like Infy and Wipro already decided to have less exposure on both these two clients,infect none exposer currently if I recollect right.

Quote:

If US Govt can bail out its auto industry, then why not India its IT?

deep_bang · 14th January 2009, 01:08

Quote:

Originally Posted by BaCkSeAtDrIVeR

Just to clarify -

2. I am a staunch supporter of legal representation for all accused - if you followed the Mumbai attacks thread, I have made by stand clear - it is a tragedy if we deny Kasav legal representation.

If the legal system was good enough to always (or atleast in 90% of the cases) punish the guilty, i would also be a supporter of legal representation. Unfortunately, it is just not so.

12th January 2009, 23:07	#316
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,452 Thanked: 30,081 Times	That is going too far: even the nastiest, filthiest, most ruthless and violent criminal is entitled to be represented by a professional lawyer in the court. If one holds it against the lawyer for taking the job, then that is interfering with the workings of justice and democracy.
	() Thanks

13th January 2009, 12:41	#319
lambuhere1 BHPian Join Date: Oct 2005 Location: @ Driver's Seat @ Posts: 730 Thanked: 108 Times	Recd this in mail ********************************* Raju Raju sat on the wall Raju Raju had a great fall Balance sheet died Shareholders cried Raju Raju made a fraud ********************************** Raju Raju Yes baba Cheating us No baba Telling Lies No baba Open the balance sheet HA HA HA
	() Thanks

13th January 2009, 13:46	#321
Thad E Ginathom Distinguished - BHPian Join Date: Jun 2007 Location: Chennai Posts: 11,452 Thanked: 30,081 Times	Yes, that is what we have to fear; that the system will be influenced and manipulated, justice will be contorted, and that nothing will happen --- at least for years.
	() Thanks

13th January 2009, 13:55	#322
diabloo BANNED Join Date: Jun 2007 Location: Bengalooru Posts: 1,480 Thanked: 17 Times	"With Ramalinga Raju behind bars, the focus is now on elder son B Teja Raju, who industry senior think may not be able to deliver at Maytas. But he is the son, many believe led his father to disaster." "The market buzz is that although papa Ramalinga Raju was sold on real estate, son was even more crazy about it. He used to press his dad to foray deeper into the industry and would often use the services of mom Nandini for that purpose." Recalling Maytas Infra's biggest deal ever, metro rail, a source says that an industry senior was trying to explain to Teja Raju how the financials of the deal were not logical. "But he seemed so well tutored that nothing made sense to him," he says. "He does lack maturity," the source adds. Son pushed Ramalinga Raju deeper into realty BTW, Teja Raju drives a red Ferrari.
	() Thanks

13th January 2009, 14:48	#324
kbalii BHPian Join Date: Nov 2008 Location: Chennai Posts: 100 Thanked: 25 Times	There seems to be a lot of discussion but does anybody know how deep the rabbit hole goes? Will satyam employees be employees for time to come? Who is the new management? Govt of India?
	() Thanks

13th January 2009, 16:19	#325
sbasak BHPian Join Date: Nov 2005 Location: CCU-LTN Posts: 607 Thanked: 16 Times	Don't forget guys that it happens in many companies - Satyam case simply came to surface.
	() Thanks

13th January 2009, 18:50	#326
BaCkSeAtDrIVeR Senior - BHPian Join Date: Jun 2007 Location: Kochi Posts: 2,540 Thanked: 758 Times	Just to clarify - 1. I stand by my statement - "Raju's actions have caused far more damage to our economy than the Mumbai attacks". The damage to the exchange - the careers of the several employees - (remember the Infy stand on hiring Satyam employees?), their future, they earnings, etc. Of course, the Satyam incident and Mumbai incident are as similar as chalk and cheese. And "national economy" != "national security". Most of you will disagree on what is more damaging; but let us agree to disagree on that. Please see that statement different from the legal representation part. 2. I am a staunch supporter of legal representation for all accused - if you followed the Mumbai attacks thread, I have made by stand clear - it is a tragedy if we deny Kasav legal representation. 3. I was being more sarcastic when I mentioned about throwing stones at lawyers' housees. Of course, Thad, Technocrat and proxima are entitled to take my post in isolation (from the Mumbai attacks thread, that is). Here is what I assume is the situation on the "25 lawyers" story. A prosecution gets maximum press when it is new. Lawyers know that and want to be known as the "Raju's lawyer". Hence, they will actually volunteer (often free of cost) to appear for the accused in sensational cases at the initial stages. In Kasav's case, if it were not for the bar association's decision and attacks on lawyer's houses more than 25 lawyers would have volunteered to appear for him. A well known senior lawyer appeared free of cost for the assassins of a former Prime Minister. He was expelled from his political party (a radical rightist one). The gentleman later went on to become an MP and later, law minister. Ram Jethmalani, if you are wondering who that was. He also claims to be the person who drafted the lawyer's code of ethics. (he raised this claim when he was accused of being unethical / anti-national when he appeared in the Mrs. Gandhi assassination case). If you recall, the shooting was captured on camera, and Jethmalani's remarks were "not even a dog would have been hanged on that evidence".
	() Thanks

13th January 2009, 23:34	#327
diabloo BANNED Join Date: Jun 2007 Location: Bengalooru Posts: 1,480 Thanked: 17 Times	Looks like Govt will bail out Satyam - Govt plans Rs 2000-crore financial aid for Satyam If US Govt can bail out its auto industry, then why not India its IT? Or does it set a bad precedent?
	() Thanks