Govt plans Rs 2000-crore package for Satyam »

The Indian Government has decided to take direct action to remis looking at a salary bailout for the 53,000 Satyam Computer Services employees. A Rs 2,000 crore package is under consideration to ensure that Satyam employees get their salary on time after it the new board said that they are looking for funds. It’s learnt that the [...]

Sensex may shrug off Satyam jolt, rebound »

A study of how the US stock markets performed in the aftermath of similar scandals in that country shows that share prices usually regain lost ground within a week of the initial shock. Investors rattled by the disclosure of an accounting fraud at Satyam Computer Services Ltd and the subsequent tumble in Indian equity prices could [...]

Bets are out: Can Satyam survive crisis? »

[/caption] Shares in Satyam Computer Services plunged more than 70 per cent to an 11-year low on Friday as investors questioned the survival of the fraud-hit outsourcing firm. Interim CEO Ram Mynampati has admitted the company, whose market value has evaporated to $170 million from over $7 billion just six months ago, [...]

Satyam investors lose over 13,000 cr »

Investors have lost a whopping Rs 13,600 crore (USD 2.82 billion) in Satyam shares in less than a month, since the skeletons started tumbling out of the company’s cupboards. The market capitalisation of Satyam fell to Rs 1,607.04 crore from Rs 15,262 crore at the end of trade on December 16, 2008, the day when [...]

Satyam scam not the first involving IT companies »

DSQ Software, Pentasoft, Pentamedia had collapsed amid scandals over insider trading, malpractices The scam involving Satyam Computer Services Ltd isn’t the first to to strike India’s software industry, although the scale of the accounting fraud to which chairman B. Ramalinga Raju has confessed may be unprecedented for the country. In the past decade, companies such as DSQ [...]