Came across a pretty interesting piece in the DNA which sought to place the confession by Satyam’s Ramalinga Raju in perspective with statements by P.Chidambaram early last year, while presenting the Budget as the FM at the time.
Satyam Computer Services was thrown into disarray yesterday as Chairman Ramalinga Raju, in a letter (pdf) sent to Satyam’s Board as well as the market regulators, admitted to cooking up the books as part of a massive fraud, tentatively pegged at close to Rs.7,000 crore.
Satyam Computer Services, India’s 4th biggest software services provider, has been caught with it’s pants down, after it announced plans to acquire Maytas Infra and Maytas Properties for $1.6 bn – 51% in Maytas Infra for $1.3 bn and 100% in Maytas Properties for $300 mn. The key point here being that the money would go to the promoters of these [...]
Bernard Madoff, former NASDAQ chairman, market maker for over 350 companies on the exchange and supposedly a man with a midas touch, has been arrested on account of running a giant $50 billion “Ponzi scheme”, which is likely to see a number of corporate entities and well heeled individuals part ways with their millions / billions.
The Crime Branch of Pune police have arrested four persons for cheating almost 30 customers of Hotel Le Meridien, Pune. This quartet was creating duplicate credit cards from those belonging to customers and then using them to make purchases.
According to a ruling by the Supreme Court, top executives of an organisation, such as a Director / CEO / Managing Director, can be prosecuted if a cheque signed by them bounces due to insufficient funds.
Even though investors today are a much more informed lot, there is still a lot to be done in terms of educating them on the merits of investing / not investing in certain types of companies.
Well known actor and director Amol Palekar, presently based at Pune, was at the receiving end of a credit card fraud as an unknown person(s) used his credit card details to book a couple of air tickets online. The card was issued by Bank of India, Mumbai, and Palekar was faced with a bill of around Rs.60K for this [...]
