Latest Updaet on Satyam - Running post

I think it would be good for readers to see all important links for news related to Satyam at one place instead of running around in search engines. It would save a lot of effort on your side, so I have created this post for you (reversed the sequence to reflect from bottom to top with top being latest. It would be easier for you to get latest news without scrolling)-
9th Jan 2009
12. No salary for Satyam Employee for 2 months. Officials have denied any layoff but has commented that is cash position is bad. SEBI have summoned Raju at Satyam's corporate office at 4:30 PM.
11. CID has started probe into Satyam fraud after state govt gave a green flag for operation.

10. While it is recession time, things are not too bad if you are a Satyam employee and good in your area. Checkout this news about opportunities for Satyam employees.

9. Satyam's CFO who has put papers, tried to commit suicide. It is really a shame but running off like this is not going to help things. We expect cooperation from these people so that no one else in future could try this scam.

8. SEBI has seized all finance files of Satyam. Investigation has formally started with this step.

7. Infosys has instructed its HR to not hire Satyam employees. I feel sorry about Satyam employees that their association with a bad name is bringing bad time for them. Also this statement from Infosys has been criticised by Satyamites.

6. Top leaders of Satyam, new CEO Ram Mynampati including vertical and regional division heads and HR head, has vowed to stay with company in this crisis. They have committed that they won't resign and will work together to bring it out of crisis.

5. While there is news that Satyam may fire 10,000 employees in Feb, new CEO has assured that Decemeber salary of Employees has been taken care of. Main issue company is facing for its operation is liquidity crunch.

4. Hoping news for investors and traders that Satyam trading will not be suspended in India.

3. KPMG raised doubt on Raju's confession. According to them, it is no a one man show and it could be a larger crime where someone has actually pulled out the money while actual money was with Satyam. If it is true, it could act positive for Satyam as a company.

2. Satyam share plunged to 18.75 while in morning it touched lowe than 12.

1. Satyam has got a major Irish contract. Under the contract, Satyam will drive FETAC’s implementation of Business Process Management (BPM) solutions for its core business processes.

8th Jan 2009
7. Despite all speculations, LIC is not planning to sell its stake in Satyam. It could be a soothing news for Satyam investor or could start worrying LIC investors who are taking ULIP from LIC. Other institutional stakeholders like ICICI, Citigroup,Fidelity etc are evaluating their option and have not made any decision till now while Aberdeen and Swiss Finance has sold their stakes.

6. Ram MynamPati is new CEO of Satyam in place of Raju. He holded a conference on 8th Jan evening to assure investors and clients of Satyam. He also revealed that Satyam's CFO has resigned while resignation is not approved yet, may be as all senior member of company are already out of company.

5. Brokerage firms have stopped coverage on Satyam share and advising new investors to stay away from this stock.

4. Maytas Infra along with other Satyam subsidiaries will be scrutinized for its link with Satyam. It might uncover another fraud. As per recent news (8th Jan, 4:00 PM IST) RC Sinha, chairman and independent director of Maytas Infra has stepped down. Mendu Rammohan Rao, a former director on the board of scam-tainted Satyam Computer Services, has quit as the Dean of the prestigious Indian School of Business in Hyderabad.

3. Law firms Izard Nobel and Vianale & Vianale have filed class action suits in the US on behalf of those who purchased American Depository Receipts (ADRs) of Indian outsourcer Satyam Computer Services.

2. Satyam was listed in New York stock exchange. It halted trading for Satyam in US as well as Amsterdam in Europe. National Stock Excahnge of India has removed Satyam from its Nifty 50-share index. BSE may follow later. Also it could be that Satyam is de-listed from stock exchanges.

1. SEBI announced that it will take strict action against Satyam Chariman for fraud. It even gave hint that it could be removed from Nifty and trading could be stopped for its share.

Till 8th Jan 2009
1. Ruchika Sharma has comiled a very nice list of events along with dates as it unfolded. It is a must start for reading and getting a history feed of what all has happened with Satyam till 8th Jan,2009.

(Plesae help me by leaving comments if you find any good link which should be here)