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Trading got off on a quiet note last week, but the Satyam announcement and withdrawal thereafter kept people intrigued and confused. No doubt, shareholder activism has picked up and shareholders lambasted the promoters, board members and particularly the independent directors.

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It's an irony that this very company has received in September 2008 an excellence award for corporate governance for the year 2007. The latest market wire on Satyam was that the department of company affairs and SEBI were going to investigate the episode.

Upaid, a company based out of the US, has filed a suit against the company some time back and has now requested for deposition of Satyam's key officials and said that this acquisition is towards stripping Satyam of its cash.

Text & Images: Business Line