Guest guest Posted January 11, 2009 Report Share Posted January 11, 2009 Satyams Ex- Chairman, Mr Ramalinga. Dear Members, I am Presenting here the details of Satyam Ex- Chairman, Mr Ramalinga Raju, Its like a fall from Sky. He did his B.com and then did MBA from Ohio University. In 1987 he started Satyam Computers, Which now is Indias 4th largest Software Giant. It Employes around 53000 persons and has some of Indias brightest Software Engineers. It has a very strong International exposure and the software services are provided to almost all developed Economies. His birth details are : 16 Sept 1954, 11:19 am, Place: Bhimavaram ( Andhra Pradesh ) India. Long : 81E34, Lat : 16N35. Asc Scorpio 15:10* Some Strengths. In his chart he has a strong Mercury lord of h11 placed in its own sign. Venus lord of h12 is strong placed in its own sign, It represents Foreign affairs. Sun lord of h10 is placed in its own sign but is very old. Jup is exalted in sign cancer, Jup lord of h2 is weak due to its afflicted house and weak disp and Jup is infant. Saturn lord of h4 is exalted in h12 sign libra but becomes weak due to bad placement and affliction from mmp Venus. Weakness. In his chart Lord of fortune Moon is badly placed in h6 and is exactly afflicted by mmp Venus.Moon is also weak due to weakness of its disp, Moon is also afflicted by Rahu. Lord of h6 Mars of financial stability in long term is afflicted by Nodal Axis, Mars also represents conflicts and disputes. Nodal axis are at mep which produce lots of volatility in life. Rahu is placed close to mep of h2 and aspects h6 and h10, which gave him manupulating nature in life. Mars is also placed in h2 at mep. Presently he is running period of Rahu / Moon. In late dec 2008 He did a deal with his Sons firm Maytas which resulted in public outcry. At that time Nodal Axis had started exactly afflicting Mep of h9 house of sub lord Moon, besides afflicting other houses also. On 7 Jan 2009 at around 11 am he sent a self confessional statement and told Public about the manupulations he had done with financial accounts of his firm. At that time Nodal axis was Stationary exactly afflicting sub lord house Moon, At that time Moon was Transiting through h6 in old age. Moon is weak in natal chart. His chart clearly indicates more difficulties ahead. From 18 Aug 2009 starts his period of Rahu / Mars, which indicates lots of troubles ahead. Period of Jupiter could bring him some respite. This chart clearly shows the effects of RAHU, The Rise and fall from Sky. I am sure more Seniors would cast their Views about his life ahead. Regards Ajay. On 7 January 2009, company Chairman Ramalinga Raju resigned after notifying its board members and the SEBI that he had falsified accounts.[10][11][12] Raju affirmed in a letter to the board that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed.[13] [14] He noted that Satyam's balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). It carried an accrued interest of INR 376 crore which was non-existent. An understated liability of INR 1,230 crore on account of funds was arranged by himself. An overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the books). He stated that " What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualised revenue run rate of Rs 11,276 crore in the September quarter of 2008 and official reserves of Rs 8,392 crore). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten.” Raju had appointed a task force in the last few days before revealing the news to address the situation. Satyam's official website notes that " We are obviously shocked by the contents of the letter. The senior leaders of Satyam stand united in their commitment to customers, associates, suppliers and all shareholders. We have gathered together at Hyderabad to strategize the way forward in light of this startling revelation” said Mr. Ram Mynampati, Interim CEO (pending ratification by the Board) and Member of the Board, who has been mandated by the Board to steer the company through this crisis. " On 10 January 2009, the Company Law Board has decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. " The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer, " said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor Price Waterhouse on the accounts fudging. " We have asked PwC to reply within 21 days, " ICAI President Ved Jain said. The CID team picked up V. Srinivas, chief financial officer at Satyam, who was arrested later. [edit] Aftermath Analysts in India have termed the Satyam scandal as India's own Enron scandal.[15] Immediately following the news, Merrill Lynch (Now with Bank of America) terminated its engagement with the company as Credit Suisse suspended its coverage of Satyam.[citation needed] It was also reported that Satyam's auditing firm PricewaterhouseCoopers will be scrutinized for complicity in this scandal.SEBI , the apex stock market regulator also said that if found guilty, its license to work in India may be revoked.[16][17][18][19][20] Satyam was the 2008 winner of the coveted Golden Peacock Award for Corporate Governance under Risk Management and Compliance Issues,[21] which was stripped from them in the aftermath of the scandal.[22] The New York Stock Exchange has halted trading in Satyam stock as of 7 January 2009.[23] India's National Stock Exchange has announced that it will remove Satyam from its S & P CNX Nifty 50-share index from January 12.[24]The founder of Satyam has been arrested two days after he admitted falsifying the firm's accounts. Ramalinga Raju is charged with offences including criminal conspiracy,breach of trust and forgery. Satyam's shares fell to 11.50 rupees on 10/01/2009, their lowest level since March 1998. Last year they hit a high of 544 rupees.[25] About half-a-dozen class action lawsuit have been filed against Satyam on behalf of the thousands of the investors in the American Depository Shares of the Indian IT firm. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 11, 2009 Report Share Posted January 11, 2009 Dear Ajay: Thank you for sharing this information with us. It is a very interesting case study. As per Systems' Approach, the transit of stationary rahu/ketu on his MEP brings an eclipse in six of the twelve houses. We also see the affliction of Rahu and Mars to Jupiter's mooltrikona sign, ruling wealth and status, is compounded due to the transit debilitation of Jupiter. All of your points on the chart are also well taken, and should be helpful to students of SA. I think the banking, religion, and morality issues around the world will continue to suffer as transit debilitated jupiter applies to transit rahu. February may be a very trying month worldwide. Best wishes, David Hawthorne 508 N. Second St., Fairfield, IA 52556 USA Tel: 641-472-3799 On Behalf Of ajay sehg Sunday, January 11, 2009 6:50 AM Satyam Ramalingas Rise & Fall Satyams Ex- Chairman, Mr Ramalinga. Dear Members, I am Presenting here the details of Satyam Ex- Chairman, Mr Ramalinga Raju, Its like a fall from Sky. He did his B.com and then did MBA from Ohio University. In 1987 he started Satyam Computers, Which now is Indias 4th largest Software Giant. It Employes around 53000 persons and has some of Indias brightest Software Engineers. It has a very strong International exposure and the software services are provided to almost all developed Economies. His birth details are : 16 Sept 1954, 11:19 am, Place: Bhimavaram ( Andhra Pradesh ) India. Long : 81E34, Lat : 16N35. Asc Scorpio 15:10* Some Strengths. In his chart he has a strong Mercury lord of h11 placed in its own sign. Venus lord of h12 is strong placed in its own sign, It represents Foreign affairs. Sun lord of h10 is placed in its own sign but is very old. Jup is exalted in sign cancer, Jup lord of h2 is weak due to its afflicted house and weak disp and Jup is infant. Saturn lord of h4 is exalted in h12 sign libra but becomes weak due to bad placement and affliction from mmp Venus. Weakness. In his chart Lord of fortune Moon is badly placed in h6 and is exactly afflicted by mmp Venus.Moon is also weak due to weakness of its disp, Moon is also afflicted by Rahu. Lord of h6 Mars of financial stability in long term is afflicted by Nodal Axis, Mars also represents conflicts and disputes. Nodal axis are at mep which produce lots of volatility in life. Rahu is placed close to mep of h2 and aspects h6 and h10, which gave him manupulating nature in life. Mars is also placed in h2 at mep. Presently he is running period of Rahu / Moon. In late dec 2008 He did a deal with his Sons firm Maytas which resulted in public outcry. At that time Nodal Axis had started exactly afflicting Mep of h9 house of sub lord Moon, besides afflicting other houses also. On 7 Jan 2009 at around 11 am he sent a self confessional statement and told Public about the manupulations he had done with financial accounts of his firm. At that time Nodal axis was Stationary exactly afflicting sub lord house Moon, At that time Moon was Transiting through h6 in old age. Moon is weak in natal chart. His chart clearly indicates more difficulties ahead. From 18 Aug 2009 starts his period of Rahu / Mars, which indicates lots of troubles ahead. Period of Jupiter could bring him some respite. This chart clearly shows the effects of RAHU, The Rise and fall from Sky. I am sure more Seniors would cast their Views about his life ahead. Regards Ajay. On 7 January 2009, company Chairman Ramalinga Raju resigned after notifying its board members and the SEBI that he had falsified accounts.[10][11][12] Raju affirmed in a letter to the board that neither he nor the managing director had benefited financially from the inflated revenues. He claimed that none of the board members had any knowledge of the situation in which the company was placed.[13] [14] He noted that Satyam's balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). It carried an accrued interest of INR 376 crore which was non-existent. An understated liability of INR 1,230 crore on account of funds was arranged by himself. An overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the books). He stated that " What started as a marginal gap between actual operating profit and the one reflected in the books of accounts continued to grow over the years. It has attained unmanageable proportions as the size of company operations grew significantly (annualised revenue run rate of Rs 11,276 crore in the September quarter of 2008 and official reserves of Rs 8,392 crore). As the promoters held a small percentage of equity, the concern was that poor performance would result in a takeover, thereby exposing the gap. The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones. It was like riding a tiger, not knowing how to get off without being eaten.” Raju had appointed a task force in the last few days before revealing the news to address the situation. Satyam's official website notes that " We are obviously shocked by the contents of the letter. The senior leaders of Satyam stand united in their commitment to customers, associates, suppliers and all shareholders. We have gathered together at Hyderabad to strategize the way forward in light of this startling revelation” said Mr. Ram Mynampati, Interim CEO (pending ratification by the Board) and Member of the Board, who has been mandated by the Board to steer the company through this crisis. " On 10 January 2009, the Company Law Board has decided to bar the current board of Satyam from functioning and appoint 10 nominal directors. " The current board has failed to do what they are supposed to do. The credibility of the IT industry should not be allowed to suffer, " said Corporate Affairs Minister Prem Chand Gupta. Chartered accountants regulator ICAI issued show-cause notice to Satyam's auditor Price Waterhouse on the accounts fudging. " We have asked PwC to reply within 21 days, " ICAI President Ved Jain said. The CID team picked up V. Srinivas, chief financial officer at Satyam, who was arrested later. [edit] Aftermath Analysts in India have termed the Satyam scandal as India's own Enron scandal.[15] Immediately following the news, Merrill Lynch (Now with Bank of America) terminated its engagement with the company as Credit Suisse suspended its coverage of Satyam.[citation needed] It was also reported that Satyam's auditing firm PricewaterhouseCoopers will be scrutinized for complicity in this scandal.SEBI , the apex stock market regulator also said that if found guilty, its license to work in India may be revoked.[16][17][18][19][20] Satyam was the 2008 winner of the coveted Golden Peacock Award for Corporate Governance under Risk Management and Compliance Issues,[21] which was stripped from them in the aftermath of the scandal.[22] The New York Stock Exchange has halted trading in Satyam stock as of 7 January 2009.[23] India's National Stock Exchange has announced that it will remove Satyam from its S & P CNX Nifty 50-share index from January 12.[24]The founder of Satyam has been arrested two days after he admitted falsifying the firm's accounts. Ramalinga Raju is charged with offences including criminal conspiracy,breach of trust and forgery. Satyam's shares fell to 11.50 rupees on 10/01/2009, their lowest level since March 1998. Last year they hit a high of 544 rupees.[25] About half-a-dozen class action lawsuit have been filed against Satyam on behalf of the thousands of the investors in the American Depository Shares of the Indian IT firm. Quote Link to comment Share on other sites More sharing options...
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