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Enron Comes Home through Satyam
Just came back from a class the read that in the Satyam Computer's balance sheet of 5361 crore , 5040 crore is fictitious money and and accrued interest of 376 crore is non-existent! Some accounting I must say. I hear you say something about having auditors? Well PricewaterhouseCoopers are said to be the auditors of this Satyam Fraud.

Here is what I read at the Economic Times-
Raju's letter to the company board revealed a fraud of unprecedented proportions. He states that Satyam's balance sheet as on Sep 30, 2008, carries an inflated (non-existent)cash and bank balances of Rs 5,040 crore (as against Rs 5,361 reflected in the books).

Further, it carries an accrued interest of Rs 376 crore which is non-existent. The books carry an understated liability of Rs 1,230 crore on account of funds arranged by Raju, and an over stated debtors position of Rs 490 crore (as against Rs 2,651 crore in the books).
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Travel Tales from India 48
Posts by Mridula
? What a Day it Was!
? Enron Comes Home through Satyam
? Different Ways They Torture You 0n the Rajdhani Express Train
? More on Traveling on the Footboard of the Karnataka Express Train
? Fishermen Launching a Boat at the Sea- A Video from Surathkal
? Lazy Sunday Photo- At the Footboard of the Karnataka Express Train
? What did you do on January 1, 2009?
? Bye Bye Bangalore- Some More Images from the Vegetable Mart and Market
? Surathkal Beach- The Last Day of 2008
? Wish You all a Very Happy 2009!
? Some Flowers, Some Shops, Gandhi Bazaar (Market)- Bangalore
? Meeting Lakshmi and Nilesh
? Two Yellow Cards
? Lazy Sunday Photo- Looking Out of Amber Fort, Jaipur, Rajasthan
? Flowers Again- All Clicked at Nainital
? Running, Gadgets and the Like
? Hi from Bangalore- Merry Christmas
? On the Way to Bangalore!
? More Images of Jal Mahal- Jaipur
? Jaigarh Fort- Jaipur, Rajasthan
? Lazy Sunday Photo- On a Rainy Day Somewhere in UK
? Monkeys at Work!
? Lac Jewellery from Jaipur
? Colorful Berries- Red and Yellow
? Cloth Fit for Royals!
? Incredible India!
? Dahlias in Bloom
? Indian Railways- Always Fascinating
? Lazy Sunday Photo- Digging up from Old London Photos
? Bloggers Vs. NDTV
? Fog on the Road, Cobwebs in the Mind
? Painting the City Palace (Jaipur) Pink
? Footprints on the Sands!
? What do We do with the Time we 'Save'
? Lazy Sunday Photos- ITM Gwalior
? Taking a Train Tomorrow Again!
? Can You Draw or Paint?
? Indian Chinese Food at Chung Wah!
? Lazy Sunday Photo- Sea at Surathkal
? Knife on the Beach!
? While I am Slogging ...
? Pani Puri Anyone?
? Lazy Sunday Video from Youtube- Hotel Kerelafonia
? Lazy Sunday Photo- Flower Shop Owner with an Attitude!
? Yet More Images from Gandhi Bazaar, Bangalore
? One More Train Video
? Video of a Lassi Shop from Amritsar by Hobo
? Them Doggies Again and a Few Cows as a Bonus
Mridula
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About This Blogger
Mridula loves to trek and travel, in that order. She does not believe in comforts when she is traveling, so it means no luxury hotels or anything. The only thing she has splurged on is a Canon DSLR. She considers Ladakh magical and Prashar Lake just out of this world. She has traveled abroad a few times but always for work. And surprisingly academics still remains her vocation of choice, inspite of having to teach 18 year olds!