Satyam scam is not something that will shatter the peace and tranquility of Indian public beyond repair. The robbery may be big in terms of western standards but for us its just another brick in the wall- the wall of resilience and apathy. Both these conditions are thrust upon us as prerequisite for being a [...]
I am sure by now all of you know about the Satyam scam and how the companies management was involved in a massive $2 billion scam. But one of the most important thing which this complete scam has brought out is the dwindling margins on the IT Services Business. Satyam as per Raju only operated [...]
The scam at Satyam Computer Services, the fourth largest company in India’s much showcased and fiscally pampered information technology (IT) industry, has had an unusual trajectory. It began with a successful effort on the part of investors to thwart an attempt by the minority-shareholding promoters to use the firm’s cash reserves to buy out two [...]
The 7000 Crore Satyam Fraud has not only tarnished the very meaning of Satyam,the first of the three words describing GOD, himself (Satyam,Shivam ,Sundram) but has crashed and blasted all that stood in the name of truth, atleast in the eyes of the common man.
It may have not killed any,but its impact is akin to [...]
The Institute of Directors, that had conferred the Golden Peacock Global Award for Excellence in Corporate Governance 2008 upon IT giant Satyam, has stripped off the company of the laurel in view of the “falsification of the books of accounts by Satyam”.
“An emergency meeting of Golden Peacock Awards Jury was held on 07th Jan 2009 [...]
It is with deep regret and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice:
1. The Balance Sheet carries as of September 30, 2008,
a) Inflated (non-existent) cash and bank balances of Rs 5,040 crore (as against Rs 5,361 crore reflected in [...]
This is by far Largest Corporate Scam in India Inc. Read more ...
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