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back to article Satyam sale possible before probe ends

Troubled Indian outsourcer Satyam is asking for formal bids from potential buyers before the final details of its fraud investigation are known. The company, which is the country’s fourth largest outsourcing outfit, wants to invite bids for a potential sale of its business as soon as regulatory approvals are completed. “While …

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  1. jayasankar

    Ready for a blind date??

    “While the accounts restatement in a formal sense and the audit is going to take a long time, the clarity with regard to the real situation [of the firm’s business] is fairly clear,” Satyam chairman Kiran Karnik ...

    I dont understand the logic behind the above statement..

    We say that the publically available financial statements are wrong <cooked up>

    We say that the employee strength is not what is said

    We say that it is not clear as to the involvement of other Sr management members in the scam

    to top it all ,

    this are testing times for the industry even under normal working situations

    Major clients have started looking at BCPs

    Law suits against the company (a few are there and many more getting ready- under different laws , in india and US)

    Stake holder lossess still not clear < employees , share holders, partners , etc>

    Employee groups demanding participation in the revival process <they lack confidence in the current management tem>

    and the Billion dollor question is why would be an investor be as optimistic as Kiran karnik to throw his money now .......with unlimited undefined/identified liabilities and ofcourse defined limited opportunities ........beats me..

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  2. Anonymous Coward
    Joke

    I remember

    The inventor of this scam, Robert Maxwell.

    His kids done well out of it though....did private eye ever get a refund on the million, after all, he won on the basis he wasnt a liar and cheat.

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