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The Satyam Computer Services scandal was India's largest corporate fraud until 2010. The founder and directors of India -based outsourcing company Satyam Computer Services, falsified the accounts, inflated the share price, and stole large sums from the company. Much of this was invested in property. The swindle was discovered in late 2008 when ...
What is the Satyam scam about? It is about corporate governance and fraudulent auditing practices allegedly in connivance with auditors and chartered accountants. The company...
Mar 9, 2024 · The Satyam Scam was a large-scale accounting fraud of over Rs. 7,800 crores which eventually turned out to be approximately Rs. 12,320 crores fiasco. Satyam computers management misled the market and the stakeholders by manipulating the company’s financial health.
Jun 28, 2023 · The Satyam fraud was considered worth Rs. 7800 crores and was formerly regarded as India's largest business scandal. The Satyam scam highlighted a lack of corporate governance, auditing standards, regulatory monitoring, and ethical behavior at one of India's largest IT firms.
Mar 16, 2022 · Victims of the Satyam fraud case. Satyam employees had stressful moments and restless nights as they faced nonpayment of salary, project cancellations, layoffs, and equally gloomy outside employment chances. They were morally, financially, legally, and socially trapped in a variety of ways.
Apr 9, 2020 · The great stock market scandal which is known as the Indian version of Enron shook the entire country in 2009. The then founders of Satyam were found guilty of committing fraud worth 7000 crores. They fooled the government, markets and customers by cooking up numbers in their financial statements.
Apr 9, 2015 · A special court under India’s Central Bureau of Investigation (CBI) on April 10 held the founders and former officials of outsourcing firm, Satyam Computer Services, guilty in an accounting scam...
Apr 9, 2015 · All you need to know about Satyam Scam, the biggest accounting scam in India. A special court today set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited. (Reuters)
Jan 7, 2009 · The chairman of India’s Satyam Computer Services on Wednesday confessed to fixing the IT outsourcing company’s books for the past “several” years, the country’s first major fraud case to ...
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.
