Raju: More trouble

Hyderabad, March 26: Satyam Computer Services has told over 9,000 fresh graduates holding its job offers they won’t be hired.

The scam-scarred company has sent the word to the Satyam Freshers Union, formed by those with such offers, that the “new owners” would take a call on their future.

The process of selecting the new owner through bidding is under way, with the bidding rules being set days back.

The offer letters were given to around 7,000 fresh graduates from technology colleges and business schools during campus placements held between July and August last year.

Another 2,000 were from the 2007 batch. They were to absorbed in phases starting December-January, but their intake plans were derailed after accounting fraud by the owner, B. Ramalinga Raju, came to light around that time.

Many of the youths — who call themselves “freshers — are worried finding another job will become tougher after new batches pass out from April and look for work.

Head-hunters and HR executives say those left out by Satyam might be lose out to the graduates next month.

A job fair organised by the Andhra government also appears to be of little help.

Regulations for Rajiv Udyogasri, which draws IT companies, say those with offer letters can’t participate.

Firms that hire at the event are given government concessions such as tax breaks.

“At least now, the government should amend and relax the regulations,” said Satyam Freshers Union convener P. Varun.

Another union member, S. Krishna Chaitanhya, said many candidates were unable to repay educational loans and the Rs 2 lakh many had already borrowed in the hope of signing indemnity bonds with Satyam.

The situation appears better for some of the 20,000 existing employees.

Nearly 1,500 of them have found other jobs, according to the head-hunters to whom they had been sending resumes over the past two months or more.

Satyam officials say they would like the employees to wait till the new owner is chosen. “We are not stopping those who wish to leave but have advised all to hold on till the bidding is over,” said a senior HR official.

Raju lie test

The CBI today said it had sought court permission to conduct a lie-detector and other tests on disgraced Satyam founder B. Ramalinga Raju, saying he was still holding back facts about the accounting scam in the company.

“We feel Raju hasn’t shared everything. The suspect is the same person who has brought up this huge organisation,” CBI director Ashwani Kumar said in Delhi.