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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.
Apr 10, 2021 · WHAT HAPPENED TO THE SATYAM POST SCAM • Government appointed new BOD and set the target to sell Satyam within 100 Days. • 46% stake in Satyam Computer Services ltd. purchased by Tech Mahindra in public auction.
The document summarizes the Satyam scam, India's biggest corporate fraud. It describes how Satyam Computers rose to become a large, successful IT company before its founder, Ramalinga Raju, confessed to inflating financial records by over $1 billion in 2009.
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.
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 ...
Oct 4, 2014 · SATYAM’S TAILSPIN • Under particular scrutiny will be the role of PricewaterhouseCoopers, Satyam’s auditor since 2001, when the group listed on the New York Stock Exchange, which appears to have missed a huge systematic fraud. • Satyam is regarded now as being vulnerable to takeover, but few bankers would venture a valuation yesterday.
Dec 13, 2011 · The Satyam Scandal involved large scale accounting fraud at Satyam Computers, an Indian IT company. Its founder, Ramalinga Raju, admitted in 2009 to inflating the company's revenues, cash balances, and profits over several years through fake invoices, bank statements, and salary accounts.
" Unlike Enron, which sank due to 'agency' problem, Satyam was brought to its knee due to 'tunneling' effect. The Satyam scandal highlights the importance of securities laws and CG in emerging markets. Indeed, Satyam fraud " spurred the government of India to tighten the CG norms to prevent recurrence of similar frauds in future.
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.
