Founder and Chariman of Satyam Resigns

India's Fourth Largest IT company Satyam Founder and Chairman Ramalinga Raju has resigned from the Board. Raju has put in his papers and is waiting for the Board's decision.

As Satyam was in news previously in Maytas deal and at last Raju has written a letter to the board giving details of how the balance sheet has inflated cash balances of Rs 5040 crore and accrued interest of Rs 376 crore is non-existent. Rs 1230 crore was arranged to Satyam and is not reflected in the books.

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A strong message from Obama on Terrorism

US president-elect Barack Obama said that he is planning to send a strong message to the whole world on how his new administration will be "unyielding in stamping out the terrorist extremism we saw in Mumbai". He also has plans to travel to the capital of an Islamic nation to make a "major speech"

"The message I want to send is that we will be unyielding in stamping out the terrorist extremism we saw in Mumbai," Obama said in an interview to Chicago Tribune.

Warning of "unintended consequences" for Pak by US

US warns Pakistan of 'unintended consequences', if they did not act against the "non-state actors" who took the territory to stage attacks in Mumbai, US today said that it was working hard to verify what Islamabad was actually doing against such elements.

"... I think we have to be concerned because it's obviously a time of great outrage in India. And what I emphasised was that this was a threat to both Pakistan and India these terrorists," Secretary of State Condoleezza Rice said in an interview to the National Public Radio.

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