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- For many years Satyam accounts showed profits that had never existed, cash at the bank that did not exist, which inflated the share price. Raju and friends then sold shares. The accounts also showed $3m of "salary payments" to people who did not exist. These in fact went to board members.
en.wikipedia.org/wiki/Satyam_scandal
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Jan 9, 2009 · On December 16, Satyam’s board cleared the investment, sparking a negative reaction by investors, who pummeled its stock on the New York Stock Exchange and Nasdaq. The board hurriedly reconvened the same day and called off the proposed investment. The matter didn’t die there, as Raju may have hoped.
Apr 09, 2015 07:58 PM IST. A special CBI court on Thursday sentenced B Ramalinga Raju, his two brothers and seven others to seven years in prison in the Satyam fraud case. HT presents a lowdown...
Jan 16, 2009 · The Satyam scandal has shaken corporate India, and damaged its reputation with investors, domestic and foreign.
- Economonitor
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 ...
Dec 6, 2023 · The market regulator, the Securities and Exchange Board of India (SEBI), on November 30, 2023, issued a fresh order against the promoters of Satyam, this time disgorging an amount of Rs 624...
Nov 18, 2023 · The Satyam scam sent shockwaves through the Indian economy, eroding investor confidence and shattering the image of India’s corporate sector. The company’s stock price plummeted, wiping...
May 20, 2015 · The multi-crore Satyam Computers corporate scam was a jolt to the market, especially to Satyam stock-holders. A look at all the aspects of one of the biggest corporate frauds that raised...
