Professional Documents
Culture Documents
Group (2)
Sudheer
Yogitha
Jinnu
Ruchi
Vinay
Jitesh
Vijay
saikumar Santhosh
Chandra sekher
INTRODUCTION
1994 : The Big Break- Allies with Dun and Bradstreet Corp.
Declared one of the 100 most pioneering
technology companies by World Economic
2000 : Forum.
STOCK MARKET
BSE sensex fell by 749.05 i.e., 7.25%.
NSE fell by 192.40 points i.e., 6.18%.
COMPANIES WORTH
11464 crore 1607 crore.
All time low of Rs.11.50 on 9th Jan and
closed at Rs.23.75/-
Compared to highest of Rs. 524.90/- on
May 29,2008.
Previous record -
Satyam has also been accused of frauds in 2001 and
2003.
No importance was given to this.
Getting third party evidence -
No bank confirmation on fixed deposits
Accrued interest(fixed deposit)
Debtors confirmation
Factors overlooked -
Changing of accounting years
Huge debt despite cash surplus
CONFESSION
Siphoning of funds
PERSONAL BENEFITS Salary of non-existent 13000
employees
Stake-holders
Employees
Company Logo
The people of his native village, Garagaparru, hail the
development works undertaken by the Raju Foundation,
the charitable arm of Satyam.
The Citizens for a Better Public Transport in Hyderabad
(CBPTH) demanded a CBI inquiry into the process of
how Maytas bagged the Hyderabad Metro Rail project.
Analysts in India have termed the Satyam scandal
India's own Enron scandal.
.
Ramalingam Raju along with 2 other accused of the
scandal, had been granted bail from Supreme court
on 4 November 2011 as the investigation agency
CBI failed to file the charge sheet even after more
than 33 months of Raju been arrested Appointing
New Board. Board appointed by Government.Tech
Mahindra wins bid for Satyam scam.
Appointing new board.
Board appointed by government :
• former Nasscom chief – Kiran Karnik,
• Chairman HDFC – Deepak Parikh
• Former SEBI member – C. Achuthan .
Satyam shares gained over 44% day after
appointment of the new board.
New CEO – A S Murthy
Tech Mahindra acquired Satyam on April 13,2009.
ON 13TH APR 2009, VIA FORMAL PUBLIC
AUCTION PROCESS, 46% STAKE IN SATYAM WAS
PURCHASE BY MAHINDRA.
Mr Anand Mahindra
Chairman