India resumed their first innings at 6/297. Australia took the remaining four wickets before the lunch break. Mahendra Singh Dhoni (19) and Irfan Pathan (28) both fell lbw in successive overs. India reached 330 all out with the loss of Anil Kumble for one run and R. P. Singh for a duck.
Australia struggled early on as Irfan Pathan dismissed both Australian openers for less than ten runs each and Michael Hussey was caught behind without scoring. At lunch, Australia were 3/22. The next session, Australia played well, despite losing Ricky Ponting (20) and Michael Clarke (23), coming to the tea break with a score of 5/148. However, in the last session of the day India took five wickets, sending Australia all out with a score of 212 after fifty overs. Andrew Symonds was Australia’s top scorer with 66 runs, while Adam Gilchrist made 55. R. P. Singh took four wickets for India.
In reply, India are 1/52 at stumps having lost Wasim Jaffer for 11 runs just before the close of play.
Byrraju Ramalinga Raju, founder and chairman of Satyam Computer Services, and his brother, B. Rama Raju, the company’s managing director, were arrested late Friday by Andhra Pradesh police. The brothers were placed under judicial custody in a Hyderabad, India jail and will remain there until January 23. Facing charges of criminal breach of trust (Section 406 of IPC), criminal conspiracy (Section 120-B), cheating (Section 420), falsification of records and forgery (Section 468), and fraudulent cancellation of securities (Section 477-a), they face up to ten years imprisonment if convicted.
After 18 hours of interrogation by the Crime Investigation Department (CID) at the state police headquarters, the Raju brothers were sent to the Chanchalguda prison and slept Saturday night on the floor along with 26 other low-risk inmates.
S. Bharat Kumar, the Rajus’s lawyer, asked the magistrate to issue orders for health monitoring. “His blood pressure is fluctuating and he needs medical treatment,” said Bharat Kumar. Mr. Raju appeared before the court Saturday while a team of doctors visited him after he had complained of chest pain.
Raju has Hepatitis-C, and both brothers have high blood pressure, so health precautions are necessary while imprisoned. Prison rules mandate service of jail food thrice a day. The menu includes 650 gm of rice thrice a day with 250 gm of vegetable curry and 125 gm of ‘daal’ plus tea twice a day.
Satyam’s chief financial officer Vadlamani Srinivas, who was also arrested Saturday, had undergone preliminary investigation and appeared Sunday before a special court, according to A. Sivanarayana, Andhra Pradesh additional director general of police. Srinivas was remanded to judicial custody until January 23 by Mr. D. Ramakrishna, Sixth Chief Metropolitan Magistrate, and sent to the Chanchalguda jail with the Raju brothers after interrogation by CID’s Crime Branch (the CB-CID). During his Saturday night arrest and probe by CB-CID, Srinivas made revelations which are contained in his confession letter as submitted to Network 18. “According to me fixed deposits are unreal and fictitious which were managed and was an understanding between the audit section management,” Srinivas stated.
The Hyderabad court on Monday postponed the bail hearings of the Raju brothers and Srinivas to January 16. To be defended by a battalion of 25 lawyers, the three accused will remain in Chanchalguda Central Jail until further court order. The Raju brothers were shifted Sunday to a mid-size Old Hospital Barrack cell shared with a bootlegger.
Contents
1 The offences
2 About Satyam Computer Services
3 Impact on Satyam Computer Services finances and reactions
In 2008, the company struggled to purchase two infrastructure companies founded by family members of company founder and CEO Dr. Raju – Maytas Infrastructure and Maytas Properties – for $1.6 billion, despite concerns raised by independent board directors. Dr. Raju tendered his resignation on January 7 after due notice of falsified accounts to board members and the SEBI.
Since January 7 when two lawsuits were commenced, dozens of other class action law suits were filed against Satyam for hundreds of millions of dollars damages based on fraud in the United States District Court for the Southern District of New York in Manhattan, among others. The securities fraud class-action lawsuits have been filed on behalf of investors who bought Satyam American Depositary Receipts (ADRs) since 2004.
On Wednesday Dr. Raju admitted to falsifying and overstating Satyam’s cash reserves by $1B US dollars (£661m) or 94% of its cash and bank balances on books at the end of September.
The fraud was perpetrated several years ago to bridge “a marginal gap” between actual and accounting books operating profits, and continued for several years. “It was like riding a tiger, not knowing how to get off without being eaten,” B. Raju said.
In a letter to the board, Dr. Raju said that neither he nor the managing director had benefited financially from the inflated revenues. Further claiming that none of the board members had any knowledge of the dire company situation, he noted that Satyam’s balance sheet as of the September 30, 2008, carried inflated figures for cash and bank balances of INR 5,040 crore (as against INR 5,361 crore reflected in the books). He alleged it also carried an accrued interest of INR 376 crore which was non-existent. He confessed that he himself prepared an understated liability of INR 1,230 crore on account of funds amid an overstated debtors’ position of INR 490 crore (as against INR 2,651 crore in the books).
Satyam Technology Center at Bahadurpally,Hyderabad
Indian analysts have compared the Satyam-Raju scandal to the infamous American Enron scandal. Immediately following the media expose, PricewaterhouseCoopers, auditor of Satyam’s accounts, was set to be probed for complicity in the controversy. Times Now has reported that the Andhra Pradesh CID arrested PricewaterhouseCoopers (PWC) representative Gopal Krishnan for investigation on Saturday night.
New York-listed Satyam Computer Services Ltd., India’s fourth-biggest software firm, is a consulting and information technology services company based in Hyderabad, India. Founded in 1987 by Dr. Byrraju Ramalinga Raju, Satyam’s network spans 67 countries on six continents. It employs 53,000 professionals in India, the United States, the United Kingdom, the United Arab Emirates, Canada, Hungary, Singapore, Malaysia, China, Japan, Egypt and Australia. Its monthly salary outflow is estimated at six billion rupees ($125 million). Deriving more than half of its revenues from the United States, it serves 700 global companies, 185 of which are Fortune 500 corporations.
Satyam’s clients include Nestle, Ford, General Electric Co., General Motors Corp., Nissan Motor Co., Applied Materials Inc., Caterpillar Inc., Cisco Systems Inc. and Sony Corp., and brought in about $40bn last year.
In December 2008, a failed acquisition attempt involving the company Maytas led to a plunge in Satyam’s share price. After Wednesday’s confession, Satyam stocks fell further by more than 70%, while the BSE SENSEX dropped to 7.3% Wednesday, causing the removal of Satyam Computer Services from its indices on Thursday. The shares free fell to 11.50 rupees on Friday, their lowest level since March 1998, compared with around last year’s high of 544 rupees.
India’s biggest-ever corporate fraud has seriously tainted India Inc.‘s strong corporate governance image. “The admission of fraud in financial affairs has created an adverse impression in the minds of trade, business and industry across the world,” the Indian government admitted. The government intervened on Friday night, dismissing Satyam’s board of directors, announcing it will appoint representatives to manage the affairs of the insolvent outsourcing giant. The board would meet within seven days. Dr Yeduguri Samuel Rajasekhara Reddy, chief Minister of State of Andhra Pradesh, India, on Sunday said that the main agenda is to protect the jobs of the software professionals. “We are taking all needful steps in coordination with the government of India to ensure that the jobs of 53,000 engineers are protected and the shareholders’ money is salvaged,” Reddy said.
“We are working on the names. The Satyam case is an aberration. The credibility of the Indian corporate sector in general, and IT sector in particular, should not be allowed to suffer because of this.” Prem Chand Gupta, the Corporate Affairs Minister said. The Federal Government of India appointed a three-member independent board with full authority for Satyam on Sunday and was set to convene within 24 hours. “We have appointed Deepak Parekh, chairman of Housing Development Finance Corporation, Kiran Karnik, former president of IT industry body NASSCOM and C. Achutan, former member of Securities and Exchange Board (SEBI) of India,” Mr. Gupta said.
In early Monday trading (0535 GMT) after the creation of the three-member board, Satyam shares rocketed upwards 60% to 38.15 rupees, even though the main Mumbai market was down more than 2%. BBC reported that Satyam shares have jumped 51% to 36.05 rupees on Monday after the stock lost 87% last week. “The constitution of the new board is seen as a positive step by the market. It’s a confidence boosting measure,” K.K. Mital, Globe Capital, New Delhi head of portfolio management services said. “But the rally will depend largely on the financial situation at the company and the kind of measures that are taken to improve liquidity,” he added.
The Company Law Board, however, has requested Satyam’s interim board not to implement its decisions. “We are asked by the Company Law Board not to implement the decisions of the board. But we are allowed to continue our activity. The team which was constituted recently is continuing its work,” Satyam head global marketing and communications, Mr. Hari Thalapalli, said.
Lazard Ltd., who has a 7.4% stake in Satyam, sought representation on the new board and wrote as much to The Indian Ministry of Corporate Affairs. “As the largest shareholder in the company, we want to be consulted in whatever decisions are being taken by the Indian government. We have written to the Ministry of Corporate Affairs and are awaiting a reply from them,” Hitesh Jain, a partner at ALMT Legal, who claimed to represent Lazard, said. “It is a fair proposal and we will take a decision as and when we clear other issues. No decision on this has been taken yet,” P.C. Gupta replied.
Meanwhile, the Securities and Exchange Board of India (SEBI) also announced it will try to control the damage and take steps to boost investor confidence. “This exercise will be undertaken after the third quarter results and is expected to be completed by end of February this year,” a SEBI official statement said. A SEBI team is also investigating acting-CEO Ram Mynampati whose salary was greater than that of founder Dr. Raju and all the directors combined. Dr. Raju had just one fifth of Mynampati’s total package of over Rs 3.5 crore as of March 2008. All the directors comparably received only a total of Rs 2.6 crore as salary, commissions, sitting fees, professional fees and other receivables.
Further, the Andhra Pradesh Police CID and teams assigned by the Economic Offences Wing of the CB-CID conducted searches Sunday of homes of the accused including the ex-CFO’s office to gather documentary evidence about the financial fraud.
There are many different types of flooring on the market these days, and sometimes it may feel that you’re spoiled for choice. However, when it comes to choosing flooring for everyday domestic needs there are really only two types of flooring that you need to look at in most cases, and these are vinyl flooring and laminate flooring. These two choices will usually give you everything you need in order to make most rooms in your house look presentable and give you some extra benefits into the bargain.
First off, vinyl flooring is one of the best things you can fit in either the kitchen or the bathroom. For a start it can look really good, since there are many different patterns now available in this flooring style, and also the material can be made to look like wood or even ceramic in some cases. Some vinyl floor tiles are now so realistic looking that it can fool someone into thinking that you have actually installed a real wood floor. But the best thing about vinyl is the fact that it is very easy to maintain and to keep clean. This is especially important if you have children, who really do tend to spill things all the time. With a vinyl floor all you need to do in most cases is wipe it with a damp cloth and it comes up looking as good as new.
However, vinyl flooring may not be to everyone’s liking, and when it comes to choosing flooring for somewhere such as the lounge and you want a far more authentic feel to the floor, it is probably worth looking at laminate as a good choice. As with vinyl flooring, there are now a huge number of designs available, many made to replicate some of the classic wood patterns such as oak, chestnut, and mahogany. If you are looking for a light look to your lounge then you can choose something such as pine, but if you have traditional furniture it may be worth while looking at something such as mahogany which will give a far darker look. One of the main suppliers of laminate flooring is DuPont flooring, and simply by looking at the range available from this supplier can often be all that you need.
Many people will think you have to look at a range or flooring styles in order to make your house look good. But as outlined above you really do not need much then laminate flooring or vinyl tiles in order to make a really good design impression as well as having a floor that is easy to maintain and clean. The good thing about these two materials is that they’re also easy to install, and so if you fancy doing a bit of DIY they could be right up your street.
Freeview, modelled after the United Kingdom‘s Freeview, is competing directly with New Zealand’s only other digital pay TV provider, Sky Network Television. Sky reaches around 44.5% of New Zealand households. However, unlike Sky, Freeview has no on-going subscription fees, and only has a one-off fee for a set-top box and, if needed, a satellite dish.
The Labour-led Government has provided Freeview with around NZ$25 million over a five-year period to help New Zealand change from the old analogue technology and align itself “as the rest of the world moves to digital television broadcasting,” Mr Maharey said. The funding use is monitored by the Ministry for Culture and Heritage. Dr Coleman also described the same reasons why Freeview was necessary for New Zealand and is supported by the National Party.
However, Ms Kedgley takes a different approach and describes the Freeview service as “a belated and inadequate response to the digital challenge”, but does state that digital TV is the “growth area.” She also said that the Government is now trying to catch up after they scrapped TVNZ’s (Television New Zealand) digital plan, which she describes as far more ambitious.
National, despite being supportive of Freeview, think that the Government has not done a good job with Freeview, describing it as a “white elephant“. Firstly because Dr Coleman says there isn’t enough good programming currently available to get people interested in switching, and, secondly, there hasn’t been a definite date when analogue transmission will be cut off.
Mr Maharey said that the Government is engaging various broadcasters and interested parties to get a definite analogue switch off date, and talk about other various regulatory factors. He expects the date to be within the next six to ten years.
While the Greens do welcome the new government-funded TVNZ channels, a news and current affairs channel and a family-related channel (TVNZ 7 and TVNZ 6 respectively), “The whole exercise however, smacks of too little, too late.” They also say that the amount of funding allocated to new programming cannot pose a threat to Sky. But do support “packaging and marketing […] existing TVNZ content on the emerging digital platforms.” MediaWorks, which runs TV3 and C4, will announce their two new channels in around 18-months. And Triangle TV will add their own channel, Stratos TV, in October, 2007.
National are questioning Mr Maharey why he hadn’t released the viewer number figures. Dr Coleman said that Mr Maharey was trying to distance himself away from the “reality” of what was going on. So Wikinews requested, under the Official Information Act, the amount of set-top boxes sold. The request was denied as Freeview was to release the information themselves in a months time. On August 13 the figures were released, with a total over 21,000. General Manager Steve Browning said that “we’re tracking well ahead of forecast”. Mr Maharey concurred with what Mr Browning said, saying it exceeds their first year expectations.
Ms Kedgley, Dr Coleman, and Mr Maharey all say that they don’t have Freeview, nor know anyone who has the service. Though, Mr Maharey will consider getting it when more channels and the 2008 terrestrial service is launched in eight major New Zealand cities.
The lawyer for one of the members of the so called Bali Nine is claiming he will challenge the legality of the indictment against his client.
Adnan Wirawan, the lawyer of Martin Stephens from Wollongong, says his client has been unfairly accused as being the ring leader of an alleged conspiracy to smuggle drugs: “He’s a human suitcase… he was being told what to do.”
Stephens appeared in DenpasarDistrict Court on Wednesday. The prosecution claimed that Stephens and Renae Lawrence, from Newcastle, had their hotel and trip to Bali paid for by the accused mastermind, Andrew Chan.
Stephens’ mother, Michelle, was in court for her son’s first appearance and says she will support him throughout his trial: “I’m here to support my son, and I love him and I believe in him. And that’s all I can say.”
Affordable Kitchen Reno Tips Like Refacing Kitchen Cabinets
by
Tracy Lowe
If you are preparing your home for sale, or are updating a place you have just invested in, home improvements like kitchen renovations are certainly worth the investment. In terms of resale, kitchen remodeling will not only help to get more buyers and sell your residence more quickly, they\’re also practical and advisable investments because the money invested in the remodelling is made back and may also enhance the value of your property for a potential buyer. Upgrading your kitchen area using the newest kitchen appliances, materials and styles will add convenience and pleasure for your every day life.There are several facts to consider when designing a kitchen renovation for your house. Determining the layout of this new space is important to making certain a functional and feasible kitchen.
The classic ‘kitchen triangle’ is a tried, tested and true style and design which allows for optimum flow and function in a kitchen. The 3 points of the triangle include the sink, the cooking surface and the family fridge, assisting you to move from one area to the next quickly and easily. Buying top notch materials for cabinets, hardwood floors and counter tops will turn out to be a sensible investment because they are are more durable and may have warranty options. In terms of selecting a counter top, you\’ll find countless options to gain a superior and stylish look, while also eliminating high maintenance, tough to clean products. Recycled glass for example provides a clean and contemporary look, while remaining tough, low maintenance and ecologically preferred. Additionally, granite options, like engineered Trend Stone give you a durable and cost effective countertop with great performance, since they are non-porous, stain resistant and simple to clean. Both of these counter top styles are fantastic alternatives for kitchen renovations, because they add interest and elegance while maintaining efficiency and sturdiness. Purchasing kitchen cabinetry could be the most difficult element to kitchen refurbishments, because they create the biggest aesthetic impact in your living space and monetary impact towards your budget. As well, the countless choices of style, design and quality might be overwhelming. It is crucial to take into account your storage needs, layout and personal style when moving forward with looking for cabinetry. It can be important to assess if your kitchen renovation needs totally brand new cabinets, or whether re-facing kitchen cabinets might be the most appropriate. If your current cupboards are in good condition and you have not transformed the footprint of the kitchen, you might like to look at a budget-friendly update of the current style.A fantastic way to enhance your kitchen could be to increase the amount of light. Think about modernizing your patio doors if they are off your kitchen, which they are usually in a lot of current properties these days. Another great way to improve your kitchen area and increase the sun light is to put in bay windows and bow windows, which have the added advantage of creating extra space in the form of a comfy nook. A bay window gives classiness and architectural pazazz to your kitchen design. Needless to say, if you are updating windows then another natural consideration is window coverings. The truth is, a new window covering is a very good selection for people that wish to update windows with out changing the window or making any structural modifications. Give consideration to decorative window film and cellular shades because of their superb environmental features. Roman shades and Roman blinds are a fantastic way to increase grace and decorative flare to your kitchen area space. Kitchen updates add value and interest to your property, whether you\’re preparing to sell or planning to utilize the space for several years. By keeping in mind storage, style and function, you will produce a remodel which will make an impression. By buying a design and style that reflects your character, whilst considering the layout and distance between the three most important elements (the sink, the cooking surface along with the family fridge) you will create kitchen renovations which will generate functionality, beauty and appeal.
With over 15 years of experience in the countertop and cabinet business, Granite Transformations can help you renovate your kitchen and bathroom comfortably, conveniently and within budget.Experts in
granite countertops
,cabinet refacing, bathroom remodelling and
countertop resurfacing
and installation, Granite Transformation can quickly and affordably transform your kitchen and bathroom.
Plastic surgeon to the stars Dr. Frank Ryan has died in a car accident at age 50. It is reported that the Jeep Ryan was driving crashed over the side of the Pacific Coast Highway and landed on rocks. Lifeguards were first on the scene and unsuccessfully tried to rescue Ryan. It is thought that no other vehicle was involved in the incident.
Dr. Ryan, a celebrity in his own right, performed plastic surgery on several stars including Janice Dickinson, Gene Simmons, Shauna Sand and Adrianne Curry. He appeared on several television shows and became one of the first people to perform plastic surgery on television in 1995.
A representative for Janice Dickinson released a statement about the death of Ryan. She said “Janice is deeply, deeply anguished! She is stunned and wants the world to know what a genius Dr. Ryan was.”
Ryan was traveling with his pet dog at the time of the crash; the dog was found seriously injured in the ocean and was transported to a local veterinarian. Dr. Ryan was pronounced dead at the scene.
A Paris fire in a hotel killed 22 people, 10 of whom were children, while injuring 53 — 11 seriously. The hotel was an overcrowded, budget accommodation type of housing. Most of the inhabitants were African, many housed by social services, according to an Associated Press report.
The 32 room, six-story Paris Opera hotel, was made to house 61 guests, but 90 were staying at the time of the fire, with 84 of them placed by city or state social services.
The fire is thought to have started in the breakfast room at 2:20 am Friday, local time.
Along with the Africans, who were mostly refugees, others wounded included French, Senegalese, Portuguese, Americans, Ukrainians, and Tunisians, according to a report from Turkish Zaman.com. The hotel is situated near to La Galerie Lafayette, Printemps shopping center, and Paris Opera.
It took nearly 250 fire-fighters to control the fire, and the number of casualties was high because of the single exit.
“It’s hard in that kind of situation to tell people to calm down. They jumped. People on the first floor threw their children out the windows,” Alfred Millot, head of the fire service at the nearby upmarket Galeries Lafayette department store, told Agence France-Presse.
“With our own equipment, we started fighting the fire from the ground floor. I came running and people were already jumping through the windows,” said Millot.
His store warehouse was used as a temporary morgue. Families were counselled and assisted in re-uniting by the Red Cross.
A Nissan Leaf electric car recharging at an on-street public charging station in Amsterdam
A Norwegian University of Science and Technology study released Thursday found electric vehicles have a potential for higher eco-toxicity and greenhouse impact than conventional cars. The study includes an examination of the electric car’s life cycle as a whole rather than a study of the electric car’s environmental impact during the use phase.
The researchers conducted a comparison of the environmental impact of electric cars in view of different ratios of green-to-fuel electricity energy sources. In the case of mostly coal- or oil-based electricity supply, electric cars are disadvantageous compared to classic diesel cars with the greenhouse effect impact being up to two times larger.
The researchers found that in Europe, electric cars pose a “10% to 24% decrease in global warming potential (GWP) relative to conventional diesel or gasoline vehicles”.
The researchers suggest to improve eco-friendliness of electric vehicles by “reducing vehicle production supply chain impacts and promoting clean electricity sources in decision making regarding electricity infrastructure” and using the electric cars for a longer time, so that the use phase plays a more important role in the electric vehicle life cycle.
The world is changing as rapidly as the time in your day gets used to solve a business problem. You have probably uttered “I wish I had more time in the day”, or the classic, “I wish I could be in two places at once”. It is now possible to be in more than two places at once. You can even be in offices two thousand miles apart at the exact same time. With remote management computer software it is now possible to influence multiple locations at once and this in fact can give you more time in the day.
If you are able to be in more than one place at the same time then that could free up your schedule. You could actually use the time to get more business or work on future projects for your current customers. The software can reduce and possibly eliminate the need to ever leave the office again. This is because any work that needs to be done on your customer’s computers can be done right from your office.
The use of remote control software for computers is not a new invention. It has been around for years but it was not very user friendly. Now the ability to control other computers does not only belong to the IT staff. Anyone can use the software because it is easy to use.
With a few permission settings you will be on your way to reducing your work load. You will soon be able to work on your client’s terminal across the globe with only a single click. How can this be possible?
Simply put, you connect to another computer using the software. You can do it from your work computer or any computer you want. If both computers have been configured correctly then you will be able to create documents on on another computer, change settings, see what your customer is talking about when they are having a problem. If one of your employees is having a problem with a program, you can log in yourself to show them the way to fix it.
This ability enables you to do anything you want to another computer. As long as you have permission of course. This can be a great thing if your customer is not computer savvy and needs a little extra help once in awhile.
This company has decided to use your services. Perhaps, they need you to install your program at every location and need you to configure and test it. Instead of having to fly out or letting each store download the program and try to configure it themselves you can connect to one server and have control of all the stores.
Remote management computer software is an amazing technology. It can be used to improve productivity while reducing needless expenditures on travel and time. It will also keep your customers happy when they know you can be to their aid in matters of seconds.
About the Author: The Writer is a managed service provider advisor who frequently publishes articles about
