They were shocked, bewildered and tensed as the drama unfolded. The buzz among a whole host of employees, friends and well-wishers is that there is a bigger scandal behind the whole fiasco.
The whereabouts of B Ramalinga Raju, who stepped down as Chairman of Satyam Computer after admitting to financial irregularities, were a subject of speculation late on Wednesday night. While rumours were rife that Raju may have gone to Dubai, but there was no confirmation. ?We have no idea of where Raju is,? a Satyam spokesperson said over phone when contacted. Raju was also not reachable on his mobile despite several attempts. Top police sources said they were not ?tracking? Raju as of now and therefore had no knowledge where he is.
B Prasada Rao, commisioner of police, said the police are yet to file a case and has not received any complaints. Meanwhile, Andhra CM YS Rajasekhar Reddy has ordered a CID enquiry into the matter. Expressing shock at the disclosures of Raju, he said the chief secretary will head a high-level committee to enquire into all the deals of the state government with Satyam and Maytas companies.
?Brand Satyam? is now unbranded, rewinded, torn and ripped apart, says Rajesh, a senior quality control manager at Satyam Computer Services. Hyderabad which was known for this big brand is heart broken. The mood is not calm since morning when the news broke. ?I just can?t accept this about my boss,?? is one single affirmation expressed by a section of employees. But still feel that there is a strong genesis behind Ramalinga Raju?s confession.
The mood was different at the Satyam headquarters. It incidentally became the police headquarters by afternoon and the media were stopped from all ends. Wearing a brave look, some staffers peeped out but pulled back. Incidentally, by evening, Ramalinga Raju seemed to be getting sympathy wave and as there were more disbelievers about the accounting jugglery and the presentation of illusion of profits.
Ashok, a first time buyer of a Maytas flat was denied loan from a reputed bank. Reason: the aborted Saytam-Maytas deal. Anil, another senior manager with a US project, is upset as his CV going to contain 8 years of experience at Satyam. “The whole episode is traumatising. Though it falls heavily on the senior management and the CFO, it has shattered my dreams,?? he says.
Says another executive, ?It is still difficult to digest this news. While the media has played its part with hyped up news, Ramalinga Raju is an introvert by nature, calm, and had the practice of reading books. May be he is just behind the screen of a group which include his brother Rama Raju, VV Raju and many more.??
Raju, the face of Satyam, was a kind of ?star? and a prestige to the state from the IT sector. But he has cast a shadow on the IT segment and it has let down the employees. ?His manipulation of the financials, hoodwinking the minority share holders with twisting facts are mind boggling and it cannot be Raju alone but a host of big brains which has sent him down the drain,?? said a few senior working group on Esops.
?We suspected something fishy when there were talks about the Satyam-Maytas deal. However, we never expected our chairman Raju garu protect his son Teja garu to this level,?? some employees said.
(Some names have been changed on request)
