The Board has lashed out at IL&FS for forgetting the strictures under which the company was given to the management of IL&FS.The government appointed directors had also been silent at the flouting of these norms.Note the company has already sold the preferential shares in the company without the approval of the CLB.Now IL&FS finds its reputation tarnished due to the jinxed Maytas.I am not superstitious by nature but it definitely seems that Maytas brings bad luck to its promoters.

The new law will impose a $2000 annual via fee for companies with more than 50% of its employees in the US who are working on visas.The law is specifically targeted at Indian IT companies from the letter and spirit of the law.It remains to be seen how this affects the growing closeness in India-USA relations.Though India has shown maturity by not coming out with a sharp retaliatory action,it will sour relations.

USA’s NSA possesses formidable strengths in this area using American information technology which is the best in the world.USA has denied the export of critical encryption technology in order to safeguard its lead in the cyber security area.India is taking a leaf from these countries albeit in a late manner.India’s plan will involve recruiting hackers and software professionals under the aegis of its intelligence agencies.A new law also will be passed to prevent exiting Indian laws from prosecuting these recruits.

The Satyam scandal resulted in a lossĀ  of around $3 billion besides doing irreparable harm to the reputation of India’s corporate sector.The ringleader behind the entire scam Ramalinga Raju however continues to live a life of luxury and comfort in one of India’s premier hospitals NIIMs.It is a deficiency of India’s Justice System where powerful […]

Fatpipe Networks IPO failed to get full subscription within the prescribed 3 days with the issue getting subscribed by only 70% .Fatpipe Networks Review had revealed it to be a decent buy based on analyzing the DRHP prospectus.The reasons for the poor response may have been due to doubts being raised about the intangible assets […]

Fatpipe Networks a Chennai based company is planning to come up with ~$11 million IPO on the 7th of June,2010.The DRHP filed with SEBI reveals that it might be an interesting small cap company to buy . Given the flood of low quality junk IPOs hitting the market , Fatpipe Networks looks good on a […]