Chronological events:
1) Satyam says it has over 1 billion dollars in cash reserves.
2) Satyam is sued by Upaid, a British telecom solutions firm, for 1.6 billion dollars in the US. In all likelihood media reports say Upaid will win.
3) Ramalinga Raju then tries to buy Maytas Properties and Infrastructure for, wait, yeah the same 1.6 billion dollars of Satyam's money.
4) The plan backfired and now Ramalinga Raju claims all the cash reserves and other profits are all fictitious.
Now, does that add up or is there more than what meets the eye here?
0 comments:
Post a Comment