Satyam,ICICI&HDFC

After a week, the scandal burst out, i am unable to admit to my self that our chairman did all those stuffs. i convince myself that a guy who worked for 20 years to create a giant will not do that.

The comment i received lastly from a ex-employee of satyam[I Guess] is urging me to analyse some issues on our former chairman.

I am waiting and keenly observing every move of the government.

The biggest advantage of all satyamites is that this is a great opportunity that we will never get, to be with a company in such a situation.

We will be able to handle situations in future on business, restoring employee confidence, client’s faith, et cetera very efficiently.

In every means satyam provided me the opportunity, so i cannot think odd of satyam, like outsiders who say, you did these many work for Satyam, but what Satyam did for you, or what Your boss did for you?

Another horrible opportunity i got was, to know about ICICI and HDFC, These two banks have revised the credit limits of satyam employees to 1/3 and 1/10 th of previous limits[reduced in that scale]. i am not worried but i learnt few stuffs from it. so, seriously thinking of opening a account in nationalised bank.

I still feel proud to be with Satyam.

I sent a mail condemning their act to icici and i got a reply from them too. i said ” i wont recommend icici in future for any purposes which i did before and i am considering an option of opening an a/c in nationalized bank “. I dont know how may sent like i did, now they had revoked their credit reduction.

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7 thoughts on “Satyam,ICICI&HDFC

  1. Why are you working without proper sleep or food ? Did Ramalinga Raju feed you daily…this type of non-sense has to stop.

    You were an employee not his son. Why do you expect him to feed you ?

  2. I do not know much about Satyam. But this is what I know.

    Read about ENRON. They were in the same boat as Satyam is right now. ENRON did not make it through the storm.

    There are many financial reasons for this.
    Unless another company is ready to buy out Satyam, nobody can save it. The company will disolve itself. The management will not be able to pay your salaries.

    Looking at the number lawsuits piling up. Most of the money earned will end up in the company lawyers pocket and a major chunk of it will go the clients who are suing Satyam.
    A larger number of clients will leave Satyam and get their projects executed elsewhere.

    I understand your loyalty. But remember, you are working to get paid. If company has no money, it cant pay you. So hope some company will buy Satyam. Or else you will sink along with the company.

  3. The Government of India has decided (or is deciding) to give 2000 crores to bail out Satyam which most of us would appreciate.

    However, farmer suicides in our country since 1997 to 2008 total 1,82,936. Those farmers WERE NEVER BAILED OUT.

    Dr Rudhran examines the correlation from a common mans perspective: http://www.kalugu.com

  4. I do not see anything wrong in Banks reducing credit limits. While I understand that they’re expected to be supportive during the times of crisis, please note that Banks have their own interests to protect-they’re answerable to their depositors, share holders and staff.

    It is quite natural that when they sense a risk (of cardholder’s possible inability to pay the dues) they will take some corrective action to reduce their risk. If you change job or if your salaries come on time Banks will promptly restore the limit… One is not supposed to rely on sentiments and emotions while dealing with money and I don’t expect Banks to do charity…

    Also it is not a good habit to depend on credit cards for everything. One is expected to have some savings for possible difficult times like these…

    Anyway ICICI has restored the limits now

  5. hehehe..typical indian IT chap..satyam is this & i m that..for once jst think that u IT guys r worth nothing..u r not 1 among 53000 but one amongst 100,00000 IT engineers in India..So grow up..working in a failed company doesn’t teach you how to manage a failed company…give urself a break, look for a new job and stop being sentimental about ur work or ur company..behave like a professional and not like a 5 yr old kid who thinks that the whole world is interested in finding his lost toy..

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