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Hinduja Global Solutions, the BPO arm of the Hinduja group — one of the interested parties in acquiring the scam-tainted Satyam Computer Services [Get Quote] — said it has chalked out a 100-day plan, just in case it is successful in its attempt. Meanwhile, it has written to the merchant bankers involved in the transaction.
“We are very interested in Satyam and accordingly, we have written to the merchant bankers but are yet to receive any reply,” said Anand Vohra, CFO, Hinduja Global Solutions.
About what would be the plan of action in case the company is successful, he said: “We will need to have a 100-day plan in place. This will look at four essential areas. One team will concentrate on customers and meet with them and address their concerns. Second, we will have a team that will tackle the HR issue and take care of employees issue. Another team will look into the account of the company and last, a team will try and see how we can maintain the cash that the company has and make no further losses.”
Vohra also said the company has not approached the board or any of the bankers in a personal capacity. However, he felt that the board should hasten the process.
When asked if the company was ready to acquire despite the fact that the auditors will still take some time to give the eHinduja Global chalks out 100-day plan, in case it gets Satyam.

Today Satyam board made announcement of new CEO. AS Murty will be new CEO of Satyam. Murty was global business head of Satyam. Board also announces Board also announces Homi Khusrokhan and Partho Datta as special advisors. Satyam got a loan of 600 Cr as working capital from banks.

In between it is believed that Satyam has paid employees salary for january month from a cash balance available at company, this makes clear that company had cash balance. I suspect from day 1 since Raju’c confession that Satyam already had a cash balance & Raju diverted it to his infrastructure company Maytas over last 3-4 years. Company was never running in loss, it is profit making company. If company were making losses how Raju able to pay salary of 53000 employees over so many years? According to some sources Satyam requires 200 Cr per month to pay salary of employees. This couldnot be possible for loss making company to bear that much manpower. So it is clear that Raju siphned money.

I don’t know when investigation result will be out, why it is taking too long time to unreveal true story. And now SEBI is investigating Raju behind bars. It already have investigated Raju last 2 days, still they have 2 more days left to investigate him. Meanwhile market has taken it negatively and Satyam share cracked down from 61 to 46 in last 3 trading sessions. Poor investors again got stuck, some of them have bought shares above 100/-, they are suffering all this loss unnecessarily. I think SEBI might announce open offer auction in this counter as early as possible so that investors wont suffer anymore loss further.

Now Hinduja has joined race for Satyam.The group has sent a formal communication to the investment bankers of Satyam expressing its interest in Hyderabad-based software exporter… Hinduja Global Solutions, the new industry arm of the Hinduja Group, has $130 million of cash in books to mount the takeover bid. “If a proper and transparent bidding process is followed, we are definitely interested in Satyam.

I think this news can boost Satyam share at beginning on Monday trade..But I am waiting for SEBI’s meeting on 2nd FEB, in which they likely to take decision about Open Offer price.

Meanwhile some newspapers like Loksatta continuously publishing negative news about Satyam from first day. I suspects about theirs attitude. In Loksatta past few days a news was published that “Satyam is involved in efraud” and Today they published that people says SEBI should delist Satyam or stop trading on Satyam as many companies are joining race for Satyam to increase their share value only. Really funny newspaper though it is major one among Marathi peoples. It seems like they are publishing such news on behalf of infosys, they are advocating infosys. If you get a chance then complain against this negative campaign.