Andhra Pradesh was plagued by bad news in 2009. The year has seen th state go through some of the worst turmoil in recent times. Mohammed Siddique looks back at the state's annus horriblis
There has been rarely a more disastrous, sad and heartrending year for Andhra Pradesh than 2009. The year began with one scandal and ended with another disgrace and was punctuated by several calamities in between.
It was in the second week of the year that Satyam Computers, an iconic symbol of Telegu pride, crumbled as its founder chairman B Ramalinga Raju stunned the entire country by admitting to perpetrating one of the biggest financial scams.
Raju, admitting that he had cooked the account books of the company to the tune of Rs 8000 crore and swindled the funds, was arrested by the police. Later the case was taken over by the Central Bureau of Investigation which has filed a charge sheet against Raju and other scamsters including his younger brother Rama Raju, chief financial officer Srinivas Vadlamani. The investigators are yet to acertain where the swindled money has gone.
The only silver lining in the darkest hour for corporate India was the way the central government went all out to save the third largest IT company in India and also saved the jobs of 40,000 odd employees of the company. As Satyam's share price and prestige nose-dived, Mahindra & Mahindra took over the company to give it a new lease of life.
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