With already a lot of employees resigning from the Indian IT giant Satyam, the resignation of Ramling Raju, chairman of Satyam Computers has thrilled the Indian computer market. The resignation of Ramalinga Raju has came as a shock to the board, and in his letter to the board Mr. Ramalinga Raju wrote that company has accounted exaggerated revenues over the years. From Stock market to a common employee every thing has came down as a reaction to Raju’s revelations. The Stock market has come down 48 percent after this, and it was hammered seriously by the investors.

The ace chairman told that due to poor finances he was feared of takeover. The decision of Raju was conveyed to the board of directors and they are expected to conduct a meeting on this lightening issue this Saturday. The poor financially status of the company and despite the firm efforts of Ramling Raju, things hasn’t improved in the recent past and this is believed to be a major reason behind his resignation from the board.