Posts tagged ‘India’

Corporate Shame – RAJU BAN GAYA GENTLEMAN

Today is the worst day for the corporates in India and the IT Industry in particular. IT Industry is claimed to be the cleanest of all other industries, more responsible towards the corporate governance and social responsibility.

Satyam’s involvement in the scam has caused lot of damage to the corporate India. It is a shame on the part of the Chairman and the auditors involved. It is interesting to note here that the auditors involved are PWC and they are not governed by the rules and regulations of the ICAI. Had it been an Indian CA firm involved, the whole world would have seen the scam from a different perspective.

The materiality of the case is very significant in the sense that it involves crores of Rupees. Rupees 5040 Cr to be precise. The auditors can’t escape on the grounds that the item/nature/amount was not material.

The implication of the case is very serious since this has not been done by a punter. It is done by a company which is an Index stock with several billion market capitalization. Further it is listed on NYSE and every quarter analysts draw their conclusions based on the figures announced. The investors holding the stock would have not imagined that this can happen to an Index scrip. There are very rare chances of stock moving up and gaining the momentum again.

The Satyam scam is the biggest one after Harshad Mehta and Ketan Parekh. This news has hammered the stock a lot, which touched a new 52-week low of 30.80. It has seen a drop of 77.51% to Rs 40.25, at close. Already the shape of the economy is bad and the new scam has hammered down the sensex by 749 points.

Satyam badly needs stimulus package and the companies like Tech Mahindra would think twice before investing in it. It would take lot of time for the regulatory authorities to check the facts and wash out the dirty figures. I don’t see anybody investing in the company before the regulatories complete their work.

This is the classic case of corporate terrorism and no one knows how to stop it like mumbai attacks. everyone is sheding tears but nothing is learnt from past scams. every one is blaming each other and the crook is at large laughing at his sleev. This case is very similar to the ENRON, If this is how the fraud balancesheet can be produced by the companies then how do we rely on any of the companies data? More than this what the authorities who are varifying these balancesheets are doing?

It’s a breach of Corporate Governance principles by a Company which won Golden Peacock Award for Corporate Governance in 2008. How can a person simply say sorry after cheating thousands of share holders and causing loss of billions of rupees to the poor share holders?

It has broken the confidence & trust of investors against Company as well as auditors & puts Question mark whether Auditors are dependent or independent.

Let us hope that the Government doesn’t say that  IT’S DONE BY NON STATE ACTORS!

GOD BLESS!

Raju Da Dhaba

Raju Da Dhaba

January 7, 2009 at 11:33 am Leave a comment

Email Convergence

in.com a TV 18 Venture has integrated Gmail, Windows Live Mail, Yahoo mail & Rediffmail.

In order to get started, you need to go to applications and select the ones you want.

You get to see all your emails from the above services at one place. Isn’t it cool!

December 25, 2008 at 6:24 pm Leave a comment

See the webpages you want, in your mailbox – WEBINMAIL

Rediff has launched a new service called webinmail. It aims to provide you web content in your email. Reason? I could spot two:

1. There are users who don’t have access to http in the office environment (firewall, policy etc). How do they browse? webinmail comes to the rescue

2. Users might need to access web from their mobile but don’t have the browser installed.

If you are the one among them, Try the following:

Say you want to browse – rediff.com

Simply send the URL in the subject line i.e. http://www.rediff.com

Rediff would send you the reply with the htm page of the site you requested.

It also supports Search in the following manner-

google:query

googleimg:query

rediff:query

Visit it online –>> http://www.webinmail.com

November 27, 2008 at 11:37 am Leave a comment

Gujarat International Finance Tech-City – GIFT

Projected to be completed by 2017, GIFT is conceptualized as a global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked financial centers. It shall be supported by state of the art internal infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity.

The Project Site for GIFT is located at a distance of about 12 kms from the Ahmedabad International Airport and 8 kms from Gandhinagar. The site is in close proximity to the National Highway (NH8) which is a four lane facility and connects Ahmedabad and Delhi on its western periphery. The western periphery of the site abuts the Sabarmati river banks.

Landmark Buildings:

Gujarat Chief Minister Narendra Modi’s Dream Project:

Slideshow image

GIFT would be designed to meet the following needs:

People

Business environment

State-of-the art infrastructure benchmarked to global standards

Integrated townships

Potential for being structured as an SEZ with associated benefits

The infrastructure that could exist at GIFT is briefly articulated hereafter:

  1. Completely Wired City: GIFT would be completely wired City equipped with High Speed IP based networks.
  2. Connectivity to International Fibre Landing System (IFLS): It is proposed to have firm links and connectivity to IFLS for GIFT to ensure infinite bandwidth.
  3. Wireless Access for Mobile users: The GIFT would offer ubiquitous broadband access, which will encourage work productivity, personal communication and entertainment on the go.
  4. Intelligent Buildings Services: The GIFT would use technology in building intelligent buildings
  5. Data Centres: The GIFT would build Information Data Centre (IDC) buildings in secure locations, fully connected to various premises within the proposed GIFT. The data centres would be equipped with disaster recovery facilities.
  6. Shared IT Services Centres: A high-tech totally wired city with advanced Data Centre facility would give rise to Shared Services Centres (SSCs). SSCs would focus on providing commonly used on-line transactional processing helping in providing plug-and-play solutions to the various businesses. This would also include access to National and Global Stock Markets.

For more info: visit http://www.gujintlfintecity.co.in/

November 15, 2008 at 5:20 am 2 comments

OnYoMo – Local Search Engine

OnYoMo On Your Move../..Mobile../..Mood../../.. is a web2.0 application.
It’s local, India centric search engine. Well most of us are curious about the new start-ups, new restaurants in neighbourhood, travel agents for air/railway/bus ticket booking and so on and so forth.
How many of us have time to track all the information? Well it seems OnYoMo has.

Imagine a situation, when your friend from Delhi on visit to Mumbai asks you about good courier services in Church Gate area.  You start pulling your hair, don’t know what to reply. Don’t worry bookmark this site on your browser and your Mobile. It will be a real handy tool when you want the right information. Further, you can sms the contact details of the courier to your friend. After all A FRIEND IN NEED IS A FRIEND INDEED!!!

OnYoMo

OnYoMo

If you have a GPRS enabled Mobile, you can save restaurant numbers providing home delivery, hospital numbers providing emergency services direct from m.onyomo.com. You need not retype the information. You may also call up the restaurant straight from the window of your browser.

Mobile Version can be accessed here: http://m.onyomo.com/
It provides coverage on the following cities:
Delhi, Bangalore, Mumbai, Chennai, Kolkata, Pune, Goa, Jaipur, Hyderabad, Ahmedabad, Chandigarh, Indore, Nagpur, Surat, Luknow and Bhopal.
OnYoMo covers the above cities extensively and provides quality information on products and services in the following categories:

  • Automobiles
  • Ayurveda
  • Beauty Saloon
  • Book Stores
  • Chemists
  • Computer Servicing
  • Cooking Gas
  • Courier Services
  • Cyber Cafe
  • Education Institutes
  • Electronics
  • Embassies
  • Emergency Services
  • Florists
  • Footwear
  • GiftShops
  • Gymnasium
  • Homeopathy
  • Hospitals
  • Hotels
  • Jewellery
  • Laundry
  • Library
  • Music
  • Opticians
  • Packers and Movers
  • Pest Control
  • Photography
  • Real Estate
  • Sports Goods
  • Taxi Services
  • Tour and Travel
  • Utilities
  • Valuers
  • Watches
  • Wine Shops

Still in my view, the database is evolving. It requires strong participation of users. I am sure that once that’s done, your yellow pages would see the dustbin!

Bookmark:
http://www.onyomo.com/
http://m.onyomo.com/

November 12, 2008 at 10:21 am 1 comment

Matrimony Search Engine

Not looking… still writing… is a vertical search portal for matrimony.

What more? Yes, they have a blog too, visit http://blog.bandhan.com/

November 11, 2008 at 4:41 pm 1 comment

MSN Contribute

Have writing skills?

Don’t know where to publish?

Have an opinion and faith in your writing skills? MSN Contribute gives you the perfect platform to realize your potential as a writer!Give your writing skills an audience to kill for! Express your views, prove your worth and become a five star writer. Submit your Contribution to MSN Contribute and depending on your skill and popularity, watch your ratings soar.

MSN Contribute is not a blogging platform but is a more controlled user generated articles platform.

November 11, 2008 at 4:24 pm Leave a comment

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