I confess,I did not anticipate this bombshell confession of Satyam Promoter,Ramalinga Raju on January 7,2009 which saw the Satyam price Collapsing from Rs 175 to Rs 40 on the same day
However,after Ramalinga Raju,had announced on December 16,2008,the now infamous Satyam’s Proposal to take over Maytas Companies,I had blogged on December 17,2008 to SELL SATYAM AND MAYTAS as they would sink further
The Blog was titled
Satyam becomes Asatyam as Founder Ramalinga becomes Ravana !
Click on http://www.gauravblog.com/?p=413 for full earlier blog,of which some relevant extracts are as below
Shareholders should get out of both,Satyam and Maytas Infrastructure …Both will sink further as it becomes clear and is established that this was not just a Diversification planned by Satyam,but it was a blatant bailout attempt by a Father of His Sons
Mr B Ramalinga Raju, you’re a Goner !