Subscribe to Rupya
Satyam Ramalinga Raju Resigns after Shocking Disclosures
- Filed under: Technology, india
- Date: Jan 7,2009
|
|
Satyam Computer Services Ltd has informed the market that the Company is in receipt of resignation tendered by Mr. B Ramalinga Raju, Chairman of the Company who shall continue in the position only till such time the current board is expanded and the continuance is just to ensure enhancement of the Board over the next several days or as early as possible.
Track the Stock price here
Ramalinga Raju Resigned after Disclosing the following items
>Q3 September 2008 results reported operating margin of about Rs 649 crore versus actual Rs 61 crore.
>Balance sheet as on 30 September 2008 included understated liability of Rs 1230 crore.
>and also balance sheet as on that included inflated cash and bank balances of Rs 5040 crore.
