Professional Documents
Culture Documents
Presented By
Dhananjay kumar
Jaipuria institute of
management, Noida
Satyam
Introduction
• Satyam a leading global business and information
technology company, delivering consulting, systems
integration, and outsourcing solutions to clients in over
20 industries.
• Satyam Computer Services Ltd was founded in 1987 by
B.Ramalinga Raju.
• The company offers information technology (IT) services
spanning various sectors, and is listed on the New York
Stock Exchange and Euronext.
• Satyam's network covers 67 countries across six
continents.
Contd.
• The company employs 40,000 IT professionals across
development centers in India, the United States, the
United Kingdom, the United Arab Emirates, Canada,
Hungary, Singapore, Malaysia, China, Japan, Egypt and
Australia.
• It serves over 654 global companies, 185 of which are
Fortune 500 corporations.
• Satyam has strategic technology and marketing alliances
with over 50 companies.
• Apart from Hyderabad, it has development centers in
India at Bangalore, Chennai, Pune, Mumbai, Nagpur,
Delhi, Kolkata, Bhubaneswar, and Visakhapatnam.
• Just three months ago, India's fourth-largest software
services exporter, Satyam Computer Services received a
Golden Peacock Global Award from a group of Indian
directors for excellence in corporate governance.
• We now know that DSP Merrill terminated its engagement with the
company soon after it found financial irregularities.
• However, despite the fact that DSP Merrill Lynch blew the whistle, it
is not yet clear why it took such a long time to inform the authorities,
and why it did not let the public know of Satyam's misdeeds.
• Yet in the whole shady affair, DSP Merrill comes out the best party
as it was finally because of its move that Raju was forced to quit.
Police stand guard outside the
Chanchalguda prison, where Satyam
ex-chairman Ramalinga Raju is being
held.
• The government, on its part, was perhaps
too busy projecting the stellar show of the
Indian IT sector and did not find it
necessary to launch an enquiry into these
'complaints,' so to speak.
• Thus by way of negligence the
government too is equally guilty in not
having managed to save the shareholders,
the employees and some clients of the
company from losing heavily.
Pooja, havan to help Raju get bail!
• Some ardent followers of B Ramalinga
Raju and some employees of Maytas are
invoking the Almighty to come to the aid of
the beleaguered IT strongman.
• These fans conducted a prayer and havan
service to help the disgraced former
chairman of Satyam Computer Services
obtain bail.
• The prayers are being held so that Raju
comes out of this entire episode
unscathed.
Satyam's new board meets, may elect chairman