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The Election Commissioner of India, S Y Quraishi, has said that the next general elections will be held between April 8 and May 15 2009.
General election in India is the largest electoral exercise in the world involving 671 million voters
http://in.news.yahoo.com/139/20090128/808/tnl-monks-in-bodh-gaya-offer-special-pra.html
Bodh Gaya, Jan 28 (ANI): Thousands of Buddhist monks converged at Bodh Gaya on Tuesday to offer ‘Nigma Monlam Puja’, a ritual of special prayers for universal peace.
Lama Buddhist monks from various countries participated in this 10-day event.
“For decades, the Nigma Monlam Puja has been organised during this particular time and attended by thousands of monks. The main purpose of this prayer is world peace. Buddhist Lama Monks from various countries are participating in this prayer,” said Bhante P. Civili, a Buddhist monk, Bodh Gaya.
Bodh Gaya is the place where Buddha attained spiritual enlightenment as such it is among the prominent pilgrim centres for Buddhists.
Buddhist scriptures describe Bodh Gaya as the navel of the Earth.
Around a million pilgrims and tourists visit Bodh Gaya every year to see the Mahabodhi Temple and also the tree under which Lord Buddha attained enlightenment. (ANI)
http://in.news.yahoo.com/139/20090127/874/twl-musharraf-urges-us-to-force-india-pa.html
Former President Pervez Musharraf has urged the United States to pressurize India and Pakistan to resolve all longstanding issues including the Kashmir dispute.
Speaking at the Franklin Institute, Musharraf was of the view that Kashmir and other disputes between both archrivals were the root cause of extremism in the region.
“Radicalism can never be abolished from the region until the resolution of Kashmir dispute and other differences between India and Pakistan,” he said.
Musharraf termed it legitimate and the need of hour to use the army in overcoming terrorism, but added that army operations alone cannot succeed in exterminating terrorism.
The News quoted Musharraf as saying that the substantial and swift growth of extremism in India was due to violent incidents in Gujarat and the Babri Mosque tragedy.
Extremism in India cannot be ignored, he added.
Discussing disgraced Pakistani scientist Dr. A Q Khan’s home confinement; Musharraf said Dr. Khan is the hero of the common man as he turned Pakistan into a nuclear power.
http://in.news.yahoo.com/20/20090128/1416/tnl-pm-making-speedy-recovery_1.html
Prime Minister Manmohan Singhis making a “speedy recovery” after a successful coronaryby-pass surgery, doctors attending on him said today. “His is a speedy recovery in the expected time frame,”said Dr Vijay D’Silva, an ICU Specialist from Asian HeartInstitute, who is looking after the Prime Minister.
D’Silva also said that a decision to shift the PrimeMinister from the ICU to another room will be taken after ameeting of doctors later in the day. The 76-year-old Prime Minister, who underwent coronarybypass surgery on Saturday last, walked in his room yesterdayand was put on a normal diet.
The Prime Minister’s media advisor Deepak Sandhuyesterday said that Singh has been steadily making progress inhis post-operative period and was being supported by a team ofcardiac rehabilitation and physio-therapy experts at the AIIMShospital. Dr Ramakant Panda, a specialist cardiac surgeon fromMumbai’s Asian Heart Institute, who had led the team ofdoctors during the over 11-hour-long operation, had indicatedthat Singh may not require intensive care beyond today givenhis quick progress.
My Dear Fellow Citizens,
Tomorrow, we will be celebrating our 60th Republic Day. I extend my good wishes to our citizens from all walks of life, living in the country and overseas. I convey my special greetings to the members of our Armed Forces and Paramilitary Forces who guard our frontiers on land, sea and air. I also extend my greetings to the Central and State level police forces, including our internal security forces. Today is also an occasion to pay homage to those who laid down their lives for the safety and security of the nation. We owe a deep gratitude to them.
2. For six decades we have been a democratic republic and have been guided by the principles of justice, liberty, equality and fraternity. The 60th milestone is marked with the many successes that we have achieved in different fields, and a host of issues that need our attention. We can look at our achievements with justifiable pride and focus on our shortcomings with a spirit of resolve. It is the manner in which we address the challenges we face that will determine the destiny towards which our nation is steered.
3. We have witnessed, in the last one year, major events in the financial and security scenario both at the global and the national level – terrorism and violence, natural disasters, volatility in oil and food prices, and a global economic slowdown. These tested the inherent structures and systems for dealing with emergent situations, throwing up challenges of addressing inadequacies and highlighting the need to reinforce monitoring and response mechanisms.
4. In the terrorist attacks in our cities and in different States many innocent lives were lost. The concerted and well planned attacks in Mumbai stand out as an example of a ruthless operation undertaken to damage the confidence of India. The nation was outraged. However, contrary to what the terrorists had hoped, the event saw the emergence of a unified and strong voice from India. The elections that were held after the Mumbai attacks to the Legislative Assemblies of some of our States, including Jammu and Kashmir saw a large voter turnout, reaffirming the faith of the people of India in a democratic polity. Unity is our greatest strength. It is that unique amalgam which transforms the over one billion individuals of the country into an over one billion strong resolve of one nation. It is this unity which has seen us through difficult times and is what we must preserve as we seek to fulfill our national ambitions and goals.
5. One of the priority tasks faced by us is to secure the nation against terrorist and fundamentalist elements. Government has put in place a new agency to deal with terrorist threats and has also brought in legislative changes. A determined, coordinated and concerted approach by all agencies to tackle this menace would be necessary. Our security personnel can be confident that every citizen of India is with them as they take action to safeguard our borders and secure our safety and security within the country. I call on fellow citizens and the media to be a part of this security network. This entails responsible behaviour in which we are aware of our surroundings, and do not inadvertently create an atmosphere of fear or insecurity.
6. Our Constitution is our charter of democracy and of the rights of the people. Individual freedom and dignity is guaranteed under the fundamental rights included in the Constitution. Universal franchise has given to the citizens the right to determine their political choices. The development process itself is becoming an increasingly participatory activity. The Right to Information Act provides citizens a channel to seek accountability in governance. All this places the citizen at the centre, in terms of the recipient of the benefits of the growth of the nation and as also the key player in shaping the growth process. For success to be achieved each one has to play his or her part. Gandhiji used to emphasize that, “it is in this spirit that each one of us should act.” I am confident that all citizens will perform their duties towards the nation in accordance with the wise words of the Father of our Nation. Hard work, grit, determination and perseverance of its population are the brick and mortar of nation building, which itself is a complex task. I mention this because at times, cynical views have been expressed, ignoring that it was the will and sacrifice of our people that defeated a mighty colonial power and there is no reason to doubt, that with determination and dedication we will become a mighty nation.
7. I believe each one of us is a proud Indian, willing to work for the nation but the question is how do we bring about unison in our efforts? It cannot be through the following of a narrow agenda. We cannot give in to regional, sectarian or caste considerations. These concepts militate against the very principles we chose to follow when we began our journey as a free nation. All Indians, undoubtedly, have many identities but with an underlying common identity of being Indian. We may hail from one region but belong to a different caste or religion or speak a different language, but that cannot dilute our Indian identity. That identity in essence means a civilizational ethos of a shared experience of living together in harmony through generations, in a milieu of great diversity but in a spirit of tolerance and forbearance, that flows from our basic belief of unity. The incidents of violence by one community against another can have no place in a pluralistic society. I appeal to my fellow citizens to vow that they would fight divisive agendas and work for an India in which our first identity is Indian and, only thereafter, our other descriptions follow.
8. My fellow citizens,
The slowdown of the global economy, triggered by the actions of some credit and banking institutions has resulted in a crisis of confidence all around. The need for strengthening oversight mechanisms for financial institutions and for rules which are clear, transparent and uniformly applied is being acutely felt. Some companies that over-extended or functioned in an unethical manner have caused losses to shareholders. Such incidents profile the need for stronger corporate governance. There must be clear principles of accountability when such losses take place. The richness of a few cannot be at the cost of depriving others of their due. The traditional Indian ethics emphasized saving wisely, investing productively and not borrowing more than the capacity to repay. These hold valuable lessons for the business world. As Governments take necessary domestic measures to ensure that financial institutions and companies adhere strictly to high standards and conduct, it should be accompanied with greater international co-operation so that there is coordinated action in this regard. The need for having an inclusive international financial architecture cannot be over emphasized. India will bring to the global discussions considerable weightage and meaningful contribution for a more credible and viable financial structure. The instances of financial imprudence, which can put global welfare at jeopardy, cannot be allowed to happen again.
9. India has been impacted by the global environment. However, our economy has the fundamental strength and resilience to remain on course for economic growth. The global financial crisis can be an opportunity to reinforce the structures of our domestic economy. Government has announced monetary and fiscal stimulus packages to increase liquidity in the market and encourage investments. We have a very large domestic market and by increasing the purchasing power capacity of all sections of society, our economic development can be stimulated. We could even be one of the nations who can act as an engine to help revive the global economy.
10. Economic development serves a social purpose when it is for the welfare of the people. It is our effort to work towards providing education, health and better living conditions for the poorest of the poor and the weakest of the weak. We have made progress in the last 60 years but our task is not yet completed. We have to continue our efforts if we are to achieve the goal that we have set for ourselves to become a developed country.
11. We are seeking to address inequities in the growth process through an inclusive approach that brings within its ambit all regions and all peoples. This assumes even greater importance in these difficult days of economic stress. Economic opportunities should also be accessible in the remotest areas. We should expedite development of our basic infrastructure in the country, including in the North Eastern region. The poor and the disadvantaged people need to be drawn into circles of growth, to avoid their alienation from the mainstream. Welfare and development schemes implemented in earnest can bring about tangible difference to the lives of the people. Development partners, working with the utmost commitment and without the taint of corruption, can be the agents of change. Improvement in the human development parameters is important to create a productive work force and an enriched society. It is Gross Domestic Product along with welfare of the people that are the twin pillars of a progressive nation.
12. Rural development can be a very effective vehicle for spreading the benefits of balanced growth. The global spike in the price of food grains last year, and the resultant fears of shortages and hunger, carries the message that the nation must, at all times, be focused on its agriculture sector and food sufficiency. Improvement of agriculture through better and scientific agricultural techniques would contribute to the food security of the country. We have a rich heritage of agricultural practices like land use, cropping patterns and use of manure. We can also appropriately use this reservoir of traditional knowledge in our agriculture sector. Locating food processing industries close to our rural areas can, while avoiding tremendous losses in agricultural produce, be useful for generating employment options for our rural youth. By strengthening our agriculture economy, we can bring about the upgradation in this sector, and also create internal economic demand, through enhanced incomes of the farmers. Thus our agriculture sector can act as a catalyst for stronger and sustainable growth.
13. Many countries of the world have greatly benefited from their forests. Similarly, we must look at better management of our forests, which have a wide diversity of flora and fauna including medicinal plants. They can be important in generating social, economic and environmental benefits for the country. We have adopted legislation for recognizing habitation and occupation rights of forest dwellers. It is important to build their capacity for undertaking forest based enterprises in a manner that while they use forest resources they preserve forest health and conserve its wild-life and bio-diversity.
14. My fellow citizens,
On the social welfare agenda, I would like to highlight two groups that constitute a major part of our population –youth and women. India is a young nation from a demographic point of view. The youth represent the hope for the future and are an invaluable asset to the nation. Their hopes and aspirations for growth and prosperity are indeed the aspirations of the nation itself. Productive employment generation prospects can be created through skill development and vocational training. I call on our youth to take advantage of opportunities that are available to them. In addition to self- development, they must pledge to abjure violence and work for the welfare of humanity. I would be amiss if I did not mention the laurels that the youth have brought to the nation in the field of sports in the recent past. The Olympics in Beijing last year saw medals being won by Indians. This, alongwith the commendable performances at various sporting events around the world, is significant. They, perhaps, signal that we are at the beginning of a more fulfilling era in international sports. A focus on providing facilities and encouragement to our young sportspersons is necessary.
15. As the first woman President of India, there is a natural empathy that I have for the women of our country. I am conscious about the constraints and difficulties that they face in realizing their full potential. Their empowerment is necessary and that can only come through education and economic development. A woman has a right to live with dignity and a right to be an equal citizen of the country. I have set up a Committee of Governors, to suggest steps to move forward rapidly on the agenda of gender equality. Government has introduced gender budgeting. It should be adopted by every Ministry, every Department and all State Governments for promoting gender equality. These initiatives alongwith other efforts to make women effective partners in our national life, should converge into a national mission for empowerment of women. Self Help Groups have proved to be effective vehicles for the economic transformation of women. It should be our endeavour to bring every eligible woman under the cover of a Self Help Group for her economic empowerment. We also need to address the gender bias prevalent in our society which has resulted in social malpractices like female foeticide, dowry, child marriage and other evils. With a view to make society sensitive towards the girl child, the “National Girl Child Day” will be celebrated on 24th January, from this year onwards. Civil society and the media can also play a very important role in changing mindsets and I call upon them to do so with drive and commitment.
Malnutrition among women and high infant mortality are intrinsically linked to affordable medical facilities reaching the common man. Growth in the country should get reflected in reducing malnutrition. Programmes like the National Rural Health Mission require the medical fraternity to come forward in larger numbers to serve humanity in the highest traditions of that noble profession. Older people require medical care, which should be catered for alongwith their other welfare needs, including security.
16. Fellow citizens,
Technology plays a very important role in the progress of mankind. Its use in improving communication systems is evident. Scientists are exploring new frontiers in the medical field. The launch of Chandrayaan-I has made every Indian proud. Our efforts at collaborating with the international community to reap the benefits of technology for the welfare of the nation continue apace. The concluding of the nuclear civil cooperation agreement has made India a participant in the international regime for nuclear energy. Moreover, its finalization was an expression of confidence by the international community in India. We will make every effort to augment and diversify our energy options. Technology should be used to counter terrorist threats to the nation. We should be far ahead of the terrorists who are increasingly using sophisticated technology to carry out their violent agenda.
17. As a responsible nation, the conduct of our foreign relations since independence has been to promote peace and development. We are, however, located in a region which harbors the epicenter of terrorism. We have been victims of terrorism over the last two decades. The international community must take decisive and united action against terrorism, which poses a grave threat to the stability of the world. No country can afford to take an ambivalent attitude in this fight. Arguments that terrorism is being perpetuated by independent actors are self-defeating and cannot be accepted. Countries must own up their responsibilities as must the international community in defeating terrorism.
18. I conclude with an appeal to all citizens to bring forth their very best to serve the nation. India has the privilege of being a great civilization; today, it is the world’s largest democracy and its people have the commitment to fulfill the promise of it being a great nation. I quote a line from a known Hindi poet, to describe our wish for the nation:
As our tri-colour flutters high in the sky tomorrow, let each one of us take a pledge to bring glory to India and take our country to its destination of becoming a great nation that stands for human values.
Jai Hind.
http://in.news.yahoo.com/48/20090108/804/tnl-nri-professionals-can-practice-in-in_1.html
Qualified professionals of Indian origin, including doctors, engineers and chartered accountants can practice back home, Prime Minister Manmohan Singh said on Thursday.
Making the announcement at the Pravasi Bharatiya Diwas function in Chennai, he said the professionals who possessed the Overseas Indian Citizenship card will have the benefit of practicing their professions in India.
“Further details to operationalise this benefit are being worked out,” he said.
The qualified professionals also include dentists, pharmacists and architects, he said.
Singh said the Overseas Indian Citizenship scheme announced in 2006 has received an “overwhelming response”.
He also said the government has launched a comprehensive e-governance project on migration under which every worker would be issued a ‘Smart Card’ containing details of the worker, his work contract, his employer and his insurance.
The data would be available to the Indian government as well as Indian missions abroad.
“The objective of this project is to transform emigration process into a simple, transparent, orderly and humane process,” he added.
http://indiatoday.digitaltoday.in/index.php?option=com_content&task=view&id=24638§ionid=19&issueid=87&Itemid=1
The first-ever bold and frank expose’ of Pakistan’s ‘terror policy’ by Indian Prime Minister Manmohan Singh has caused widespread chaos in Pakistan establishment. In fact, entire Pakistan media report hovered around what Manmohan Singh said on Tuesday: Pakistan is using terrorism as an instrument of state policy’.
While sharpening attack on Indian Prime Minister, Foreign Minister Qureshi on Wednesday said that ‘Pakistan does not want war [with India], Pakistan wants stability, Pakistan wants harmony and Pakistan wants prosperity in the region” Urdu and English dailies ran screaming headlines that said ‘terrorism, not India’ was Pakistan’s enemy. Urdu Daily Khabrain, published from Lahore in its lead story quoted ISI chief saying ‘Jang nahi hogi. Dahshatgardi dushman hai, Bharat nahi’ [There would not be war. Terrorism, not India, is our enemy]. The Dawn quoting ISI chief Lt-Gen Ahmad Shuja Pasha said that the General, in an attempt to allay misgivings in the West about Pakistan, emphasized: “We may be crazy in Pakistan, but not completely out of our minds. We know full well that terror is our enemy, not India.”
The ISI chief told the Der Spiegel [the German magazine] in an interview that he was willing to travel to New Delhi after Prime Minister Yousuf Raza Gilani accepted a request by his Indian counterpart following the attacks in Mumbai on Nov 26. But without revealing the reasons for not doing so, the General remarked: “Many people here are simply not ready.” The head of the Inter-Services Intelligence also brushed aside talk of a war between Pakistan and India. “There will not be a war,” he said confidently. “We are distancing ourselves from conflict with India, both now and in general.”
The Daily Times however quoting a TV channel said Gen Pasha told a German-based publication that India had not provided enough evidence to establish its claim that a terrorist outfit sponsored by the ISI was involved in the November 26 Mumbai attacks.
Meanwhile, The News said: President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani held an important meeting on Tuesday to discuss the political situation in the country and tension with India following the Mumbai attacks. Sources told the paper in the one-on-one meeting, the head of state and head of government discussed the recent statements of Indian leadership and information dossier that was handed over to Pakistan. Both the leaders agreed to carry out a credible investigation of the evidence provided by India on Mumbai attacks, said the sources.
PPI added: The two leaders said strict action would be taken against any group found involved in the Mumbai carnage. The president said Pakistan condemned terrorism in all its forms and manifestations. He said Pakistan’s armed forces were ready to foil any attempt at misadventure. The two leaders also exchanged views on the existing law and order situation in the country and other matters of national importance. The News and Urdu daily Jang as well as the Daily Times said Pakistan on Tuesday emphatically rejected the allegation by Indian Prime Minister Dr Manmohan Singh that the Mumbai attacks had the support of some Pakistani official agencies. Foreign Office spokesman Muhammad Sadiq, in a statement in Islamabad, said instead of responding positively to Pakistan’s offer of cooperation,
India had chosen to embark on a propaganda offensive. “It will not only ratchet up tensions but occlude facts and destroy all prospects of serious and objective investigations into the Mumbai attacks,” he said.
The spokesman said the Indian approach was fraught with grave risks and would further vitiate the situation in South Asia. “Only yesterday the government of India was advised not to embark on political point scoring. Regrettably this advice has not been heeded,” he said adding “Pakistan was a victim of terrorism and this pernicious phenomenon was regionally pervasive. He said “Pakistan has suffered more terror attacks than India. But we have not lost our equanimity.”
The Daily Times on the other hand reported that the prime minister and the president have agreed to cooperate with India in probing Mumbai attack. The paper said Prime Minister Yousuf Raza Gilani and President Asif Ali Zardari agreed in a meeting on Tuesday that Pakistani investigators should ‘professionally analyse’ the information about the November 26 terrorist attacks in Mumbai that New Delhi has provided to Islamabad.
Sources privy to the meeting at the President’s House told Daily Times the two leaders agreed Pakistan should extend complete cooperation to India in the investigations into the attacks. “They agreed that if anyone is found guilty, action will be taken against them in accordance with our own laws and no one will be handed over to India,” the sources said.
http://www.ndtv.com/convergence/ndtv/video/video.aspx?id=49867
The Poonch gunbattle is one of the longest encounters in Jammu and Kashmir in recent times. Army troops are battling well-armed terrorists in the higher reaches of the Mendhar sector. The encounter though shows no signs of ending. It is day seven and the ten terrorists are believed to be holding out with lot of food, arms and ammunitions stocked up.
http://khabar.ndtv.com/2009/01/06103112/gandhi-mafia.html
मायावती के सितारे लगता है इस समय गरदिश में हैं। उत्तर प्रदेश के एक और कैबिनेट मंत्री ने सरकार की किरकिरी करा दी है। मायावती सरकार के मंत्री अवधपाल सिंह ने महात्मा गांधी, पंडित जवाहर लाल नेहरू, नेताजी सुभाष चंद्र बोस, लाल बहादुर शास्त्री, चौधरी चरण सिंह आदि को माफिया बताया है। उनकी नजर में डीपी यादव एक बहादुर व्यक्ति हैं।
इतना ही नहीं मुकदमों का दर्ज होना शायद माया सरकार के इस मंत्री की नजर में एक सम्मान है। डीपी यादव पर मुकदमों पर उठे एक सवाल के जवाब में उन्होंने यह तुलना कर डाली थी।
गौरतलब है कि अवधपाल सिंह का इतिहास बड़ा दागदार है। ये शराब माफिया हैं। इन पर हत्या, लूट के प्रयास और बलात्कार के 24 से ज्यादा मुकदमे दर्ज हैं। ये कच्ची शराब का धंधा भी करते हैं। इतना ही नहीं अभी पंद्रह दिन पहले इनके गांव से तीन लाख लीटर अवैध शराब भी पकड़ी गई है। इनके पिता लटूरी सिंह यादव डकैत छविराम गैंग के सदस्य थे और उन पर भी 40 से ज्यादा मुकदमे दर्ज थे। वे भी पांच बार विधायक रहे हैं।
अवधपाल के बयान के बाद विरोधी दल समाजवादी पार्टी और कांग्रेस को मायावती सरकार पर हमला बोलने का मौका मिल गया है। कांग्रेस ने कहा है कि वह बयान जारी करने वाले मंत्री के खिलाफ एफआईआर दर्ज करवाएगी, जबकि समाजवादी पार्टी ने सीधा मायावती पर निशाना साधा है।
Courtesy NDTV
http://www.ddinews.gov.in/Homepage/Homepage+-+Headlines/satyam.htm
In the country’s biggest corporate fraud involving about Rs 8,000 crore, iconic IT company Satyam was hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman – leaving an uncertain future for the company and its 53,000 employees.
By the end of the day, the fourth largest IT company lost a staggering Rs 10,000 crore in market capitalisation as investors reacted sharply and dumped shares, pushing down the scrip by 78 percent to Rs 39.95 at BSE. The NYSE-listed firm could also face regulator action in the US.
The government, regulator SEBI and the industry reacted with shock and anguish over the turn of events that could tarnish India’s corporate and raise vital issue like ethics, corporate governance and accounting and business practices.
Acting in tandem, Corporate Affairs Ministry and SEBI announced that the episode would be probed and action taken against the perpetrators of the fraud that entails inflating profits and creating fictitious assets.
“I am now prepared to subject myself to the laws of the land and face consequences thereof,” Raju said in a letter to SEBI and the Board of Directors, while giving details of how the profits were inflated over the years and his failed attempts to “fill the fictitious assets with real ones.”
The Maytas firms, although promoted by his family, proved to be his nemesis, with Raju saying: “The aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones… But that was not to be. What followed in the last seven days is common knowledge.”
While the government said the entire issue would be referred to the Serious Fraud Investigation Office, SEBI described it as an event of “horrifying magnitude.”
“It was like riding a tiger not knowing how to get off without being eaten,” said Raju.
As a first step, SEBI on Wednesday has ordered an investigation into affairs relating to buying, selling or dealing in shares of Satyam to ascertain if any regulatory provision was violated. Besides, it ordered inspection of Satyam Computer (books).
Giving details of the irregularities, Raju said the company’s balance sheet as of September 30 carries “inflated (non-existent) cash and bank balances of Rs 5,040 crore (as against Rs 5,361 crore reflected in the books).”
It also carries “an accrued interest of Rs 376 crore which is non-existent, understated liability of Rs 1230 crore on account of funds arranged by me, overstated debtors position of Rs 490 crore (as against Rs 2651 crore in the books.”
The USD 2-billion Satyam also reported a revenue of Rs 2700 crore for the September quarter and an operating margin of Rs 649 crore (24 percent of revenue) as against the actual revenue of Rs 2112 crore and an actual operating margin of Rs 61 crore (3 percent of revenue).
“This has resulted in artificial cash and bank balances going up Rs 588 crore in Q2 alone,” Raju said, adding that the gap in the Balance Sheet has arisen purely on account of inflated profits over a period of last several years.
Satyam, meanwhile, said Board member Ram Mynampati has been appointed interim CEO.
“We are obviously shocked.. immediate priorities are to protect interest of shareholders, protect the careers and security of its approximately 53,000 associates..,” Satyam said in a statement.
A shocked industry called for deeper regulation. “This fraud on the investors and employees… shows a systemic breakdown in audit and board oversight… questions will need to be asked,” FICCI President Rajeev Chandrasekhar said.
FICCI and CII, however, said the Satyam episode should not be seen as a blot on all the Indian firms.
Corporate Affairs Minister Prem Chand Gupta said stern action would be taken under the law. (DD-7.1)
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