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Nov 16, 2019 · The Satyam scam was one of the largest corporate scams in India. The founder of Satyam Computers, Ramalinga Raju, admitted in 2009 to falsifying the company's accounts over several years, inflating cash balances and revenues. This impacted over 50,000 jobs and damaged India's reputation.
Dec 8, 2016 · The document summarizes the Satyam scam, one of India's largest corporate frauds. Ramalinga Raju, founder and chairman of Satyam Computers, admitted in January 2009 to inflating the company's accounts by over $1 billion USD. An investigation found that Raju had misrepresented financial records and profits to investors and regulators for years.
Oct 19, 2011 · 1) The document summarizes the Satyam scam, where the chairman of Satyam Computers, Ramalinga Raju, admitted to a corporate fraud of over Rs. 7,800 crore by falsifying the company's accounts. 2) Raju and his brother were arrested on charges of breach of trust, cheating, and falsification of records.
5 days ago · On January 7, 2009, Ramalingam Raju disclosed in a letter to the Board of Directors that he had been manipulating the company’s accounting numbers for years which are estimated to range from 2003-08. Mr. Raju claimed that he overstated assets on Satyam’s balance sheet by $1.47
Jan 3, 2020 · Satyam Scam-case study Sh. J. L. Negi GM/RBI/CBI jlnegi@rbi.org.in gmrbi@cbi.gov.in Introduction • Satyam Company Services Ltd. was incorporated on June 24, 1987 • Promoters holding of the shares in 1992 was 18.78% • Main business of the company was IT related fields and it came into prominence after Y2K problem • In 1991, it was in a ...
Raju and his brother were arrested for breach of trust, conspiracy, and falsification of records. The Satyam scam had major consequences, including a drop in Satyam's stock price, lifetime bans on auditors involved, and loss of clients. Mahindra later acquired Satyam and formed Mahindra Satyam. More accounting fraud can be prevented through
The document discusses the Satyam scam, where the former chairman of Satyam, Ramalinga Raju, admitted to manipulating the company's accounts by overstating assets by $1.47 billion and claiming $1.04 billion in non-existent bank loans and cash.
