mintu patel

1. Satyam
Scandal….
Cooking books of accounts
Presented By : Mintu Butani(04)
Presented To : Miss. Khushbu Savaliya

2. Introduction

3. About Mahindra Satyam
 Former type - Public company
 Industry - IT services, IT consulting
 Fate - Merged into Tech Mahindra
 Successor - Tech Mahindra
 Founded - 2009
 Defunct - 2013
 Headquarters - Hyderabad, India
 Services - IT, business consulting and
outsourcing services
 Website - www.mahindrasatyam.com

4. About Scam
 It is about corporate governance and
fraudulent auditing practices allegedly in
connivance with auditors and chartered
accountants. The company misrepresented its
accounts both to its board, stock exchanges,
regulators, investors and all other
stakeholders.
 8 India’s Largest Froude- Rs.7800crore( now
estimated as 14000crore)

5. Satyam Scandal: Who, what and
when
 What: The scandal broke in 2009 when
founder-chairman of Satyam Computers
Ramalinga Raju confessed that the company’s
accounts were tampered with. He disclosed a
Rs.7,000-crore accounting fraud in the balance
sheets.

6. Cont….
Who did it ?
- 33 year old assistant manager (finance)
Srisailam "got created the 7561 falsified sales
invoices ..(and) hid them from business
divisions.. got the data fed into the systems.“

8. Who is Ramalinga Raju ?
 Byrraju Ramalinga Raju is the former chairman
and CEO Satyam Computer Services from 1987
and till 7 January 2009.
 Born - 16 September 1954 (age 63)
Bhimavaram, Andhra Pradesh, India
 Nationality - Indian
 Occupation - former Chairman of Satyam Computer
Services
 Status - Criminal

10. Cont….
 When: The timeline of the scam
- from 1987 to 2009
- 1991-1992 listed in BSE
- 2001 listed in NYSE
- 2009 7 year jail through CBI
- 2010 levied 5 Crore charge
- 2015: All 10 accused found guilty

11. How they did it… ??

14. Why he did the Scam ?
 He wants to purchase several thousands of
acres of land across Andhra Pradesh to ride a
booming realty market.

15. Failure of Corporate Governance at
Satyam
 Stakeholders
- Shareholders
- Employees
- Clients
- Bankers
- Government

17. Share Price of Satyam ltd.
 Satyam Shares : Lost 77% to end at Rs. 40.25
from Rs. 175
BSE : Closed at 9586.88 Sharply down 749.05
pointed or 7.25%

18. Who controls Satyam now ?
• Now Satyam is running with the help of
following people
Mr. Rakesh Soni
(CEO)
Mr. Anand Mahindra
(Chairman)
C. P. Gurmani
(Managing
Director)

19. Awards
• Dataquest IT Man of
the Year in 2000,
• CNBC's Asian
Business Leader
• Corporate Citizen of
the Year award in
2002 and
• E&Y Entrepreneur of
the Year Award in
2007.

20. Conclusion

21. Thank You……