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Apr 5, 2023 · Satyam Computers Services Limited (“Satyam”) was one of the major information technology companies until January 2009 when B. Ramalinga Raju, CEO and Chairman of Satyam, addressed a letter to the board of directors of Satyam stating that its financial statements were manipulated and inflated for several years. Satyam was listed on Pink Sheets, Bombay Stock Exchange and National Stock Exchange.
Apr 9, 2015 · Satyam scandal prime accused B Ramalinga Raju, once the poster boy of the ITeS industry, and his brother B Rama Raju were sentenced Thursday to seven years rigorous imprisonment and fined Rs 5.5 crore each after they were convicted by a special court in the Rs 7,800-crore accounting fraud that shook the country six years ago.
Mahindra Satyam (formerly Satyam Computer Services Limited) was an Indian information technology (IT) services company based in Hyderabad, India, offering software development, system maintenance, packaged software integration and engineering design services.
Satyam scam of corporate governance Introduction Satyam was established in 1987. 4th fastest growing IT Company in India. 40,000 employees Revenue $2.1 billion It is the first company of India listed in three International Exchanges i.e. NYSE, DOW and EURONEXT. Satyam Computer Services Ltd was founded in 1987 by B.Ramalinga Raju.
Apr 9, 2015 · Touted as the country's biggest accounting fraud, the Satyam scam had come to light on January 7, 2009, after the firm's founder and then Chairman Ramalinga Raju allegedly confessed to ...
Dec 20, 2023 · The old aphorism “All that glitters is not gold” finds legitimacy in what came to be known as the Satyam Scam in the late 2000s. A financial chicanery that withered away the trust of global companies in the Indian regulators, periled job security, thrust shareholders into uncertainty, and exposed the hypocrisies of champions of corporate governance.
The Securities Exchange Board of India (SEBI) played a critical role in the Satyam scam investigation. SEBI launched a probe into Satyam Computer Services following a confession by the company’s Chairman, Ramalinga Raju, that he had falsified the company’s accounts and inflated its profits.
