Skip to content

Does anyone really know what happened to Satyam??

Post this topic on X

In General & Off Topic

The IndiBlogger forum is now a read-only archive. Every public discussion is still here to read, but new topics and replies are closed.

Anoop Zombie
from Bangalore |

On the very recent 7000 cr scam, the Indian papers seem to be saying a lot of things most of which are going above my head.So what exactly was the scam?

I was also wondering if people found any blog posts about this?

Replies 1 to 5 of 5

Anoop Zombie
from Bangalore |

So did they fake 7000 Crores? and where do they go from here? any idea what might happen to the engineers working there?

Renie Ravin
from Chennai |

@Sriharsha - well put!

@Anoop - it's actually a 5000 crore scam. More info here. From the same link, it looks like Satyam has been running on loans for quite a while, and they would not be able to pay salaries for Jan 2009. So 53000 engineers won't have jobs from February!

Anoop Zombie
from Bangalore |

@ Amitabh :- Darn good arcticle on the blog! and a different perspective to the whole issue..

@ Renie :- If Satyam stops salaries for Jan 2009.. wont the consumer and civil court be flooded with lawsuits against them? I mean from the employees themselves? I think they will keep a lot of the core teams alive for a while..

Anoop Zombie
from Bangalore |

@ Every one .. Please follow this thread by Dr. Rudhra .. Darn good read and he has also started a similar discussion ..

http://www.indiblogger.in/forum/topic.php?id=185