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Satyam Fiasco

Satyam Fiasco

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Published by prateekv13
satyam fraud
satyam fraud

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Categories:Business/Law
Published by: prateekv13 on Dec 13, 2009
Copyright:Attribution Non-commercial

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08/07/2011

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Satyam Fiasco
 
Raju’s Letter to the Board -1
To the Board of Directors,From: B. Ramalingam RajuSatyam Computer Services Ltd.,Chairman, SCS Ltd.,Dear Board Members,It is with deep regret, and tremendous burden that I am carrying on my conscious, thatI would like to bring the following facts to your notice:1.The balance Sheet carries as of September, 30, 2008:
b)Inflated ( non-existent) Cash and Bank balance of Rs. 5,040 Crores ( asagainst Rs. 5361 Crores reflected in the books)

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