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Attemps to sideline real investigation into Satyam saga

Can somebody explain on what grounds a city court as rejected SEBI’s and SFIO’s plea?

Is CIS and local police more capable than SEBI and SFIO?
Better yet, does local police and CID are legitimate entities to probe a securities fraud on a global scale?
Before the whole world laughs at us, Center and State government should realize global ramifications of this case even if they have to sacrifice few of their leaders who may have hand in this scam.

Filed under: India blogs, , , , , , ,

Satyam’s stolen money used to bribe politicians?

Is that a possible scenario? Absolutely yes.

The muddu bidda of Congress is uncomfortably sitting in chenchal guda jail which is just few miles from my home.
Ramalinga Raju’s mess up with Satyam may have coincided with rise in Real Estate boom. With Maytas properties and maytas infra companies one of which is public, Raju may have lost interest in Satyam due to thin margins and may have paid more attention to real estate to make a quick buck. What a shame.

There could be more people behind this mess and the investigation will duely bring all those culprits out in the open.
Big question now on everybody’s mind is, where did the money go?

Part of the stolen money (siphoning of direct cash and also via inflating employee count with fictious pay stubs) may have been used to bribe Congress political leaders and Opposition party leaders like TDP. This is to ensure that they get the state projects on a preferential basis. Some of that money may have also gone into private purchase of land in and around properties owned by maytas group before that information became public.

I have no faith in CM Y.S Rajasekhar reddy who caused huge loss to state government by selling land for SEZ to satyam at a price lower than 90% of the market value. How could he pass special GOs to ensure that Satyam get a preferential allotment? Why should i assume that he was not duely bribed for this allotment?

India was put to shame with the unfolding of Satyam’s saga. Any attempt to shun complete probe will only dampen the image beyond repair. This should serve as a eye opener to all politicians both existing and aspiring that you cannot mess with the system for too long.

Filed under: India blogs, india wired, Indian Bloggers, , , ,

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