Satyam is a company that specializes in information technology, business services, computer software, and is a leading outsourcing company in India. The company grew quickly during the 1990s and 2000s as more and more companies around the world looked to India for outsourcing solutions. It eventually became the fourth largest outsourcing company in India. Satyam provides solutions to approximately 185 Fortune 500 companies throughout the world. The business community recognized Satyam as a global
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History Satyam Computer services Limited an Information Technology Company was founded in 1987 by Ramalinga Raju. The company is based in Hyderabad, India and was the fourth largest software exporter in India until January 2009. As one of the largest software company, Satyam traded in the Bombay Stock Exchange, the national Stock Exchange and New York Exchange. Satyam grew rapidly with customers stretching over 66 countries and was ranked at 185th on the Fortune 500 companies list. In 2008, Satyam
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Accounting Fraud at Satyam Computers March 04, 2011 BACKGROUND Satyam Computers Services Limited was a consulting and an Information Technology (IT) services company founded by Ramalingam Raju in 1988. It was India’s fourth largest company in India’s IT industry, offering a variety of IT services to many types of businesses. Its network spanned over 46 countries, across 6 continents and employed over 20,000 IT professionals. On 7th January 2009, Satyam scandal was publicly announced and Ramalingam
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business abuse their position in some or the other way. There were many example to choose from but I chose “Corporate accounting scandal at Satyam “, which is also infamously called as India’s Enron. The reason why I selected this particular company is that I had my cousin brothers and sisters working for this company and this scandal affected our families in a big way. The background Scandals are like an iceberg, they represent the only visible catastrophic failure. Saytam Computers was founded By Mr
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Ethics in Accounting By Pace University – New York Accounting for Decision Making, MBA 640 Fall 2011 Required Research Paper Page 1 of 11 Table of Contents Number Content Page Number 1 Introduction 3 2 Ethics in Accounting 4 3 Enron Scandal 6 4 Satyam Scandal 8 5 Conclusion 10 6 References 11 Page 2 of 11 Introduction • What is “Ethics”? Ethics, also known as moral philosophy, is a branch of philosophy that addresses questions
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Prakash Group C9 Satyam Scandal The irony of the meaning of Satyam has been highlighted by many media reports. Satyam is derived from the Sanskrit word for truth and honesty. In January 7, 2009, will go down as a black day in corporate India for this was the day India was hit by its first major market/corporate scandal leading to the collapse of the stock of a major Indian IT corporate house. Ramalinga Raju, founder and Chairman of Satyam Computer Services Ltd, India’s 4th largest IT services
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from the Satyam scandal. Earlier today, Ramalinga Raju, Satyam’s founder and longtime chairman, admitted in a letter to the board that he had been cooking the books for years to make up for revenue and profit shortfalls. Read the details in this report by my BW colleague, Manjeet Kripalani. In his letter, Raju wrote that the cover-up finally got the best of him: “It was like riding a tiger, not knowing how to get off without being eaten.” This admission will have a crippling impact on Satyam. Its chances
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10/8/2012 | Case for Critical Thinking: Satyam – the ‘Enron’ of India. | Table of Contents Background to case study1 introduction to management issues1 Identification of management issues2 rationalisation behind unethical behaviour2 corporate governance and social responsibility2 recommendations3 Implementation of recommendations3 references4 1.0 BACKGROUND The purpose of this case study is to identify the management issues of Satyam Computer Services Limited’s, former chairman
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background Satyam Computers Services Limited (SCSL) was incorporated in the year 1987 as a private limited company at Andra Pradesh. Later at 1991 Satyam recognized as a public limited company. SCSL is fourth largest provider of Information Technology services in India. In the year 1995 company awarded ISO 9001 certification. Twenty years ago, Satyam has consistently innovated across various aspects of the enterprise-processes, technology, business and engagement models, and service offerings. Satyam offers
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In the wake of global scandals involving kickbacks and accounting fraud, one unlikely country, India, is aiming to set a tone in overhauling its corporate oversight laws. This month, the nation’s upper house of Parliament passed the Companies Bill, 2012, sweeping legislation meant to overhaul auditing, impose stiffer penalties for fraud and create more government oversight of businesses. The lower house had passed the bill last year. Once India’s president, Pranab Mukherjee, signs it into law,
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