The admission of fraud at Satyam Computer Services by B. Ramalinga Raju was pleasingly graphic. “It was like riding a tiger, not knowing how to get off without being eaten,” he told shareholders in his resignation letter today.
That is probably an accurate way to describe holding $1bn of fictitious cash on your balance sheet, and finally attempting to swallow up the hole by acquiring two family-owned companies. Perhaps the beast that now swallows up Satyam will be Infosys. Read more