Failure of ID’s – Satyam

•Are they really independent?

•The Id’s were
Vinod Dham (“Father of Pentium”)
U S Raju (Former Director of IIT)
T R Prasad (Former Union Cabinet Secretary)
M Srinavasan & K Palepu (Professors at HBS)
•Each ID received around Rs 13 lakhs for the year 2007 for
around 100 hrs of work
•Acquisition of Maytas Infra by Satyam was a clear violation
•4 ID’s resignes as soon as the news broke out
•Financial statements were ‘obvious forgeries’ – Deepak Parekh