That for years, the accounts had been dressed,
His shocking revelation,
Sent shivers through the nation,
For he'd stirred up a huge hornet's nest.
Said Raju, "Believe, I implore,
That I sincerely tried to restore
The accounts, put them right,
But by then, my sore plight,
Was like riding a beast carnivore."
"How I wish I had not tried the stunt
Of acquiring the name back to front**
Now the fear of being mangled,
Has me further entangled,
So I guess I must now bear the brunt!"
The Sunday Times 11/01/2009: India rocked by its own Enron - Ramalinga Raju, the founder of Satyam Computers has shocked corporate India by confessing to having cooked the books at Satyam for years. In a fraud already labelled as India’s Enron, Raju admitted to having inflated the reported cash and bank balances of the company by $1 billion (£660m), while overstating revenues and understating liabilities. As the company grew, the gap between fact and fiction widened.“It was like riding a tiger, not knowing how to get off without being eaten,” the 54-year-old wrote in his resignation letter. This weekend he is being held in custody, leaving a trail of destruction and unanswered questions behind him. Get the rest of the story here
** Maytas = Satyam spelled backwards
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