Satyam Scam Case Study Pdf

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It is widely believed that rivals such as HCL, Wipro and TCS could cherry pick the best clients and employees, effectively hollowing out Satyam. HERE

Another possible impact could be on the trend of outsourcing to India, since Indias IT firms handle sensitive financial information for some of the worlds largest enterprises.. In one of the the biggest frauds in Indias corporate history, B Ramalinga Raju, founder and CEO of Satyam Computers, Indias 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. HERE

Satyam scandal a full analysis 1 Presentation by- Swapnil MaliRohit Deshmukh Vipin Bhosale MITSOT System (2011-13) 2 OVERVIEW Introduction Literature Review Findings and Analysis Conclusions and Further Research MITSOT System (2011-13) 3 Introduction Study shows World is not only just going through economic crisis but also ethical crisis with the Corporate frauds, Accounting scandals, Mismanagement, Bribes and many more.. Meanwhile, a team of auditors from the Securities and Exchange Board of India (SEBI), which regulates Indian public companies, has begun an investigation into the fraud.. S Laws have been broken At least two U S Law firms have filed class-action lawsuits against Satyam, but given the companys precarious finances, it is unclear how much money investors will be able to recover. 3

According to experts from Wharton and elsewhere, the Satyam debacle will have an enormous impact on Indias business scene over the coming months.. That tragedy has been succeeded by another that has been dubbed Indias Enron.. No notes for slide Instituational shareholders should try to satisfy themselves that the investee companys board and sub-committee structures are effective; that independent directors provide adequate oversight; and maintain a clear audit trail of their meetings and of votes cast on company resolutions, in particular contentious issues.. Ironically, Satyam means truth in Sanskrit, but Rajus admission accompanied by his resignation shows the company had been feeding investors, shareholders, clients and employees a steady diet of asatyam (or untruth), at least regarding its financial performance.. ( Editors note: Satyam is a corporate sponsor of India Knolwedge@Wharton ) Rajus departure was followed by the resignation of Srinivas Vadlamani, Satyams chief financial officer, and the appointment of Ram Mynampati as the interim CEO. e10c415e6f 4

In a press conference held in Hyderabad on January 8, Mynampati told reporters that the companys cash position was not encouraging and that our only aim at this time is to ensure that the business continues.. The possible disappearance of a top IT services and outsourcing giant will reshape Indias IT landscape.. SATYAM SCAM: A CASE STUDY BACKGROUND HISTORY OF SATYAM Satyam Computer Services Ltd was incorporated by the two brothers, B Rama Raju and B Ramalinga Raju, as a private limited company for providing software development and consultancy services to large corporations in 1987.. Though control of the company will pass into the hands of a new board, the government stopped short of a bailout it has not offered Satyam any funds. 5