Satyam looking for a buyer, removed from Sensex  
9 Jan 09, 09:36pm

Investors and Employees of Satyam Computers are doubtful about the future of company after the shocking financial irregularity disclosures by its chairman Ramalinga Raju about 7000 core fraud.

Employees started looking for jobs in other firms but at current scenerio getting a job is very tough due to global financial crisis. One recruitment firm yesterday said that probably Satyam would lay off at least 10,000 employees for its survival.

Bombay Stock Exchange expelled Satyam Computers from all major indices. Sun Pharma will replace Satyam in the Sensex and GlaxoSmithkline Pharma will replace Satyam in the BSE-100.

National Stock Exchange had already removed Satyam from its indices immediately after the disclosures about the multi-crore fraud.

Investors of Satyam Comupters also under severe pressure to sell off the stocks as it is getting hammered every day with different issues.

Satyam stock prices have crashed almost 92.3 percent in last 10 months to 40.3 Rupees from a high of Rs 524 in 2008 March.

In US Satyam shares trading halted for the second day and two cases registered in the US against the company.

Now company's top management is looking for a potential buyers to keep the company in business. Previously many Indian and International companies were interested to take over Satyam including IBM, Tech Mahindra and L&T Infotech.