ppt on satyam

Guided by : Dr.priyanka baldawa Submitted By:jYOTI jain

Founded in 1987 by

Mr.raju

Satyam was india’s 4th

largest IT services company

Over 50,000 employes

Almost one in every two of

the fortune 500 was said to

be client of satyam

90% of businees comes

from USA

Satyam business has spread

over 66 countries

Listed on BSE, NSE ,

NYSE

3 areas of working

- IT services

- Business process

outsourcing (BPO)

- Software products

In the financial year ending March 2008 , satyam

reported impressive 46.3 % rise in revenue to $ 2.1

billion

In October 2008 , satyam said revenue would rise

further 20 % in the 2009 financial year

But later this all found to be fictious

First IT company in the world

Certified under ISO 9001:2000

Top 13 Best – Managed companies

in India

SAP Pinnacle Award in 2008

Golden peacock award for

excellence in Corporate Goverance

United kingdom trade & Investment

India Business award

Greed for money , power ,

competition , success and prestige

compelled Mr. raju ( founder & ex-

chairman ) to “ ride the tiger ”

which as a resultant forced him to

commit a huge fraud

Scam is over of $ 1.47 billion

Thrown spotlight on corporate

governance in India – Based

companies

To cover up satyam’s fictious

assests wih real one , satyam

attempted to accquire Maytas

Infrastruture & Maytas

properties

Which was owned by Mr .

Raju’s family

Later , the acquistion was

dropped when satyam

shareholders protested

As per India’s CBI report

satyam did :-

- Involvement of dual

accounting books

- Thousand of forged invoices

- Fake bank statements

- Thousand of unnessary

employes

- Auditors received fees several

times the market rate

This scam also termed as India’s Enron

On Janurary 7th 2009 , B . Ramlinga Raju , Founder

& Chairman of Satyam Computer Services , resigns

B. Ramalinga Raju : Satyam Former Chairman

Rama Raju : Brother of Ramalinga Raju (MD)

V Srinivas : Ex-chief Financial Officer

S. Gopalakrishnan : PWC Auditor

Talluri Srinivas : PWC Auditor

Before the scandal, it’s share price was Rs. 300 in

Oct. 2008. Just after the scandal share price go down

to Rs. 6.30.

The Company Law Board decided to bar the current

board of Satyam functioning.

The New York Stock Exchange has halted trading in

Satyam stock.

Before scandal, Satyam was 4th ranked among IT

companies of India and after the scandal, it became

least valuable IT company in India.