The Satyam Saga continues ....

Raju yesterday declared that he was a fraudster. And this melted Satyam’s stock value by 90%. Some people made a lot of money selling short but a lot other have panicked. The questions remain though. And for some reason, the figure don’t seem to add up.

• If Satyam does not have any money now, how does it propose to pay salaries to its employees.
• A collorary to the above, if satyam had gone ahead with the deal to buy Maytas with its fictitious money, then how did Satyam propose to pay its employees and the suppliers?
• How has satyam been giving dividends all this while?
• How come there were talks of a buyback coming from the company when the actual situation was so dicey?
• How did PWC did not manage to check the big hole in the balance sheet?
• What is the value or EPS of the share now?
• What happens with the management now?

The situation is still dicey with a few people now suggesting that raju did manage to siphon off the money and now is lying about it not being there….

Some of the coverage doing rounds…

http://www.dnaindia.com/report.asp?newsid=1219762
http://www.dnaindia.com/report.asp?newsid=1219704&pageid=0