Satyam, deep, sh**., Ramalinga, Raju, resigns,, Stock, tanks, 67%

Ramalinga Raju, the CEO of Satyam Computer Services has resigned from the board. Raju has admitted fraud over the years for inflating or overstating the profits and assets.

Maytas deal was an attempt to put the overstatement’s to rest and get the actual assets on to the books. I need to go through stuff to get the actual picture but the two links below might help you :

Business Standard
MSN

The stock of Satyam is trading 67% below at 58.5 rupees. It still is not a good pick if you ask me.

Update :

1. Ramalinga Raju’s letter to the board.
2. Ram Mynampati (interim CEO) letter to the employees.
3. SEBI & Bhave’s reaction
4. Mohandas Pai’s reaction
5. Narayana Murthy’s reaction
6. Satyam could be removed from Sensex & Nifty