Ramalinga Raju Admits 7000 Crore Fraud

Satyam Which has been in troubled waters for sometime now suffered the worst blow any company could  get when its chief ramalinga raju confessed that all these years the accounts shared with the share holders and  investors were inflated . Its clear now that  maytas Deal was a cover up used for filling  the gap between the balance sheets and the actual money that was available with the company .

It actually comes as an  absolute shocker that a company as big as satyam which is even listed in New York stock exchange could come under the scanner for a fraud of such a huge sum . ofcourse , thousands employees who make the company aren’t responsible but ultimately its the brand name SATYAM that takes the toll . And the investors and the employees are the ones who suffer in turn .

This news , yesterday, spread like a wild fire and the investors reacted within no time to take out the money . The company  shares had a free fall from a value of  170 to mid 30s , almost77  percent down . This is  expected to go further  down .Somewhere i even read that the shares could touch a value as low as zero .

The repercussions of this whole event Could be huge . Indian market which is already reeling under the effects global recession is gonna get severe blow even though they are going to remove Satyam stocks from NIfty. This Could shoo away lots  of NRI and foreign investors who have been the main reason behind the massive IT development in the last few years. Think about the 50k employees of the company.They are no more secure. and finding a job is difficult these days even for the experienced lot .

And there are around 8ooo freshers (2008 passouts)Who have been recruited by satyam and almst 80 percent of them are yet to join . Being a fresher myself i know how it would feel . Many of them had taken huge loans an the  only way replay was to join Satyam . And now under all these circumstances , chances of them getting joining are very less . And the job market isnt helping either.

After all this when the main culprit ,who is responsible for all this , will be given a punishment he will be out again in bail.I think Its high time that we have stricter  laws for dealing with these kinds of cases . He has played with  thousands of peoples life .

ONE DAY AT THE CALL CENTER

Ladies and gentlemen  , i hereby announce that this is very much the real me and not my ghost . Yes , i am alive . I have been doing the disappearing act for the last 2 weeks .Well,had been a little busy so couldn’t read ur blogs and couldn’t even reply to ur comments for my last post  😦 . Anyway it took my last 2 hours to read all the unread posts in my reader . PHEW !!!!  Having so many good blogs that u cant stop reading isn’t easy !!!  🙂

Now , coming back to the post , before u make any conclusions let me tell u this post has nothing to do with the novel One night at the call center or with its author Chetan bhagat 😛 .The only reason that made to keep this title was to make u guys a little  curious 😛 .

Well ,most of u know that i have been ranting here in my blog about not getting my joining date 😦  .  I have been trying to find some alternatives but considering that  IT industry  is in deep shit ,its very unlikely that i would be able to find a new job . So for the mean time me and my friends thought of  geting into some BPO/callcenter till our respective recruiters gives us joining date  .

Yesterday as planned we( 5 of us) decided to go to a reputed BPO here in chennai where they have walk in’s daily .Along with another guy, i  reached the place at about 11 and were surprised to see more than 100 students already there waiting ,apparently many for them were like us , fresh ,bright and useless engineers 😛 .

Almost all of them were carrying big files which were supposedly containing their certificates .WE had none .We were just carrying our resumes in hand. Once my other friends came we decided to give our resume in the reception .AFter an hour or so we were called and had some kind of registration . Then we were asked to wait again. We were happy to get some unoccupied seats 🙂 .  30 minutes later we had initial screening . WE were asked to sit in a group of  about 10 ppl  .The HR gave a brief overview about the company and after which she asked each one of us to  tell us about our favorite fruit . Funny eh ?? they supposedly wanted to know how good we speak  .After last guy spoke she wrote something in each one of our resumes and gave to us.  Then their was a panel round where we were bombarded with questions by 2 HR’s .  We were then separated in voice and non voice groups .Apparently those who spoke well were allotted  voice and others non voice .

ME and one of my friend were got voice and other 3 got  non voice . One guy left without completing the interview further because he dint want non voice .OTher two guys were about to leave too but we convinced them to stay . Me and the guy who was selected for voice were asked to go to another center 20 km away for having an interview with some manager .Meanwhile the nonvoice candidates were given a peice of paper and asked to write about some topic 😛

WE started at about 530 and reached the main office at 7 . We waited there till 9 30  and observed how ppl were working there . It was kinda boring and we were becoming restless .IT was quite an odd time to have an interview isn’t it .When i couldn’t stand more  i went and said that i am not interested anymore , I will leave ..But the guy insisted that within 10 minutes u will have ur interview .. after 10 minutes the guy came and started the interview and guess what the same old questions ..Tell me abt urslelf  blah blah.  We finished it off and started to move out .The HR asked us to come for an apti round tomorrow  ( i.e. today ) which was supposed to be just an eyewash .

Other 2 friends who were giving their last round got rejected  cuz one of them got so pissed off that he spoke arrogantly to the HRs  😛 . SO me and other guy too dropped the idea of joining as we had lost the interest. After reaching home we had a group chat and we decided to go to some other BPO to try our luck   😛 .

Its almost 1:30 and my eyes are burning ..sorry if the post has some errors not rechecking it now…. gonna hit the bed  .

CHAO !!!