Having people very close to me working at Satyam, I closely followed the growth of Satyam and was very proud that a Telugu Bidda has won international recognition. My respect for Ramalinga Raju grew when he started the EMRI as a not-for profit organization and quickly ramped up operations to 10 states covering more than 100 million population. India badly needed an Emergency Management Service and EMRI was there at the right time. The EMRI model would have been an ideal model to replicate in all the developing countries, with the technology that ran EMRI being talked about as the best in the world.
On December 16th 2008, when the Satyam-Maytas deal was proposed, I found myself in the small minority of people who thought it was a good synergy. I think India has a great potential in implementing new technologies in the real estate vertical. I did not believe that Raju & people around him were a greedy bunch out to loot Satyam.
Then can Jan 7th. I was shocked to read the news that the guy ran a massive fraud for 7 years. Satyam almost collapsed and the guy went to prison awaiting trial.
A man who seemed like a beacon for the people of Andhra has deceived everyone. I don't know if it can analyzed and explained as to why he did what he did, but he seems to have gotten the bulls eye when he said he rode a tiger not knowing how to get off it.
It was like riding a tiger, not knowing how to get off without being eaten.
Raju garu, you almost became the best son of AP in the last 50 years, but threw it away. Why did you do this SIR?
RESIGNATION LETTER FROM MR. B. RAMALINGA RAJU