As James Friedman of Susquehanna Financial Group aptly observed, it is the "reckless behavior with regard to corporate governance and cash balance usage for other considerations while its (Satyam's) peers instead are contemplating and/or pursuing share repurchases" that angered the shareholders of Satyam Computer so much that they simply dumped it.

It is an apt observation because, according to Oxford dictionary, `reckless' means `having no regard for danger or consequences', and obviously any behavior that springs out of such recklessness is sure to land anybody in trouble. And that is what indeed has happened to Satyam Computer Services.

Coming to the facts, Satyam Computer Services, the fourth largest software export company of India, recently announced its decision to diversify into realty and infrastructure to de-risk itself. Accordingly, it decided to acquire stakes in two companies: acquisition of 100% stake in Maytas Properties, a realty firm run by Rama Raju, the younger son of Ramalinga Raju, Chairman of Satyam Computer Services; and two, 51% stake in Maytas Infra, a listed company run by Teja Raju, the elder son of the Chairman of the Satyam Computer. These two companies, owned by the family members of Satyam's Chairman, were to be acquired for a total consideration of $1.6 bn.

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