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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.
Jan 9, 2009 · Since Satyam’s stocks or American Depository Receipts (ADRs) are listed on the Bombay Stock Exchange as well as the New York Stock Exchange, international regulators could swing into action if they believe U.S. laws have been broken.
Dec 20, 2023 · Satyam had about 3 lakh shareholders and over 50,000 employees. It stood tall among big IT firms such as TCS, Wipro, and Infosys. It had business with 185 Fortune 500 companies in over 60 countries. Satyam had a net worth of $ 1 billion in 2003, which crossed $ 2 billion in the next 5 years.
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 ...
Jul 18, 2023 · Today, people remember Satyam Computers Services as the biggest corporate scammer rather than a famous IT company. With scams, you may assume that Satyam’s owners might have taken away the money as loans like Nirav Modi or Vijay Mallya.
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 misrepresented...
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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.
