Crisis-hit Sasken sees margins plunging
Since January, the firm’s stock has fallen 83.7% and closed at Rs55.45 on Tuesday, almost one-fifth of the Rs260 at which shares were sold to the public in September 2005
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Rajiv Mody (CEO)and Nita Revankar (CFO) are solely responsible for Sasken crisis.They lack vision and judgement resulting in good people like Prabhas Kumar and Srinivas Kandula leaving the company and incompetent people like Kannakote joining the company with high salaries. Rajv and Nita must surrender their salary to cut the losses of shareholdrers.
nagesh