Beneficiaries thank Indias disgraced Ramalinga Raju

January 17th, 2009 - 10:25 pm ICT by ANI  

Ramalinga Raju

Hyderabad, Jan. 17 (ANI): It was roses, posters and prayers outside the central prison in Hyderabad here on Saturday where disgraced Satyam chief Ramalinga Raju has been kept after the countrys biggest corporate fraud came to light.
Satyam, which means truth in Sanskrit, has been battling for survival sinceRaju resigned as chairman last week, saying profits had been falsified for years and 1 billion dollars of cash and bank balances did not exist.
The revelations have cast a pall over Indias much-cherished softwaresector and had commentators lamenting a shameful lapse in corporate governance by one of the industrys favoured sons.
The fate of Satyams 53,000 employees hangs in the balance with statements from government officials that there were no plans for a bailout adding to the gloom.
Though for some, Raju is a still a great man who is changed the lives of thousands for good.
Employees of Satyam and other well wishers of Raju paid their thanks with placards and bouquets placed outside the prison where the Satyam founder is lodged.
Ravi Rajesh, an employee of Satyam computers said, Whatever happens in the future we do not know but whatever he has done so far touched many lives, tens of thousands of lives and may be even millions. But each and every one of us who came here today either directly or indirectly got benefited from his direct actions. His vision saved many lives.
Apart from those who got benefited professionally, Raju has also done a lot of charity.
He is a great person. We have come here to show our solidarity. What all has come up is yet to be investigated and so we should not jump intoconclusions, said Rajeshwar, a native of Godavari district.(ANI)

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