Satyam-Maytas Scam : Revealing Minutes of the crucial December 16,2008 Board Meeting to discuss and approve the acquisition proposal

The Minutes of the Crucial December 16,2008 Meeting of the Board of Directors of Satyam to discuss and approve the Maytas acqusition proposal are now in public domain

Phew ! I read the Twelve pages of the Minutes and can only say this !

NONE IN THE BOARD WAS ABOVE BOARD !

The way the Meeting Progressed from 4 pm and the nature of the various presentations that were made and the Information and explanations given by Top Management and Working Directors…all actually provide answers to some very vital questions that are being raised on

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I had warned you on December 17,2008 to SELL SATYAM AND MAYTAS as they would sink further !

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

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Hey! Is Times of India Reading My Blogs ? Headlines Today: Did Raju tip off big lenders?…Blogs on Thurs,Jan 8 and Fri, Jan 9,2009 raises this Issue

Hey ! Times of India’s Mumbai Edition has this Headline Today

Did Raju tip off big lenders ? 

Thanks TOI….you reach out to Millions…..I raised this Issue too on my blog on Thursday,January 8,2009…Check it out Below

http://www.gauravblog.com/?p=426

 

NOW TWO MORE SERIOUS QUESTIONS EMERGE IN THIS SORDID SATYAM SAGA UNFOLDING!

Now Two More Serious questions need to be answered in this continuing Satyam Saga !

QUESTION NO 1

DID RAMALINGA RAJU INTIMATE LENDERS TO SELL HIS PLEDGED SHARES BEFORE RELEASING HIS CONFESSION LETTER TO REALISE A BETTER PRICE TO CLEAR MORE OF THE LOAN ? 

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NOW TWO MORE SERIOUS QUESTIONS EMERGE IN THIS SORDID SATYAM SAGA UNFOLDING!

Now Two More Serious questions need to be answered in this continuing Satyam Saga !

QUESTION NO 1

DID RAMALINGA RAJU INTIMATE LENDERS TO SELL HIS PLEDGED SHARES BEFORE RELEASING HIS CONFESSION LETTER TO REALISE A BETTER PRICE TO CLEAR MORE OF THE LOAN ? 

This is very much posssible as the Promoters Holdings was 8.61 % on December 16,2008 when Satyam announced the controversial Maytas Takeover Proposal but has since dropped to below 4%…It so transpires that promoters had pledged their shares to raise funds…Ramalinga Raju claims in his confession that the understated  Liability of Rs 1230 crs in Satyam is on account of his raising funds for the Company against his own Shares !

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