Search results
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...
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.
Mar 9, 2024 · The Satyam scam (Satyam computers scam) was finally exposed early in 2009. Analysts dubbed the scam as India’s own Enron. Today, we take a look at the scandal that hit the nation in the midst of a recession how it was carried out, its effects, and how it was dealt with.
Jan 9, 2009 · In one of the biggest frauds in India's corporate history, B. Ramalinga Raju, founder and CEO of Satyam Computers, India's fourth-largest IT services firm, announced on January 7 that his company had been falsifying its accounts for years, overstating revenues and inflating profits by $1 billion.
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 · Hyderabad: A special court on Thursday sentenced B. Ramalinga Raju, founder of the erstwhile Satyam Computer Services Ltd, and nine others to seven years of rigorous imprisonment, convicting...
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 manipulating his company's account books and inflating profits over many years.
Feb 2, 2023 · Appellate tribunal SAT on Thursday set aside Sebi's orders that had barred Satyam Computer 's B Ramalinga Raju, B Rama Raju and others from the securities markets for up to 14 years and asked the markets regulator to pass a fresh order in the 14-year old case.
