Business ethics are important for companies to follow. Unethical behavior can negatively impact a business in the long run. Satyam Computer Services saw significant losses after its founder admitted to an accounting fraud of over 7 billion rupees by inflating finances, faking employees, and siphoning money. The scandal had wide-ranging effects and left an uncertain future for the company.
THE INDIAN CONSTRUCTION TYCOON: PALLONJI MISTRYVARUN KESAVAN
Pallonji Shapoorji Mistry (born 1929) is an Indian-born Irish construction tycoon and chairman of Shapoorji Pallonji Group. According to Forbes, his wealth is estimated to be US$16.9 billion as of September 2016. With his 18.4% stake in Tata Sons,[1] he is the single largest shareholder in India's largest private conglomerate Tata Group. He is the chairman of the Shapoorji Pallonji Group through which he owns Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes Limited. He is the former chairman of Associated Cement Companies. Pallonji gave up his Indian citizenship in 2003 to obtain Irish nationality, because India does not yet allow dual nationality . His son Cyrus was chairman of Tata Sons from November 2011 to October 2016.[3][4]
A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate.[5] He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.
THE INDIAN CONSTRUCTION TYCOON: PALLONJI MISTRYVARUN KESAVAN
Pallonji Shapoorji Mistry (born 1929) is an Indian-born Irish construction tycoon and chairman of Shapoorji Pallonji Group. According to Forbes, his wealth is estimated to be US$16.9 billion as of September 2016. With his 18.4% stake in Tata Sons,[1] he is the single largest shareholder in India's largest private conglomerate Tata Group. He is the chairman of the Shapoorji Pallonji Group through which he owns Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes Limited. He is the former chairman of Associated Cement Companies. Pallonji gave up his Indian citizenship in 2003 to obtain Irish nationality, because India does not yet allow dual nationality . His son Cyrus was chairman of Tata Sons from November 2011 to October 2016.[3][4]
A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate.[5] He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.
The Piramal Group is a diversified global business conglomerate, which has presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging, financial services and real estate. Ajay Piramal is the chairman of the Piramal Group.
Satyam Scam - Explanation of the events & FutureVarun Modi
Hi,
Here's one more presentation I gave in the 3rd semester of MBA in year 2008. The presentation is all about Satyam Scam.
There's a .PDF file attached in slide number 17 describing what lies ahead for the Satyam. Please don't forget to open it in order to understand the risks associated if Satyam gets acquired.
Thanks,
Varun M.
The Piramal Group is a diversified global business conglomerate, which has presence across various sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging, financial services and real estate. Ajay Piramal is the chairman of the Piramal Group.
Satyam Scam - Explanation of the events & FutureVarun Modi
Hi,
Here's one more presentation I gave in the 3rd semester of MBA in year 2008. The presentation is all about Satyam Scam.
There's a .PDF file attached in slide number 17 describing what lies ahead for the Satyam. Please don't forget to open it in order to understand the risks associated if Satyam gets acquired.
Thanks,
Varun M.
Learning organizations, ideal organizations, learning, Single loop learning, ...Vikas Tyagi
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Learning organizations, ideal organizations, learning, Single loop learning, Double – loop learning, Organizational Learning, Traditional organization,
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
2. Why Business Ethics ?
“A business that makes nothing but
money is a poor kind of business”–
Henry Ford
A business that makes nothing but
money (mostly) does not make it for
long
Vikas Kumar Tyagi
3. WHAT IS ETHICS ?WHAT IS ETHICS ?
A system of moralA system of moral
pinciples,rules and standardspinciples,rules and standards
of conduct.of conduct.
The branch of philosophyThe branch of philosophy
that deals with issues of rightthat deals with issues of right
and wrong in human affairs.and wrong in human affairs.
Vikas Kumar Tyagi
4. BUSINESS ETHICSBUSINESS ETHICS
ETHICAL RULES AND
PRINCIPLES WITHIN A
COMMERCIAL CONTEXT.
THE VARIOUS MORAL OR
ETHICAL PROBLEMS THAT CAN
ARISE IN A BUSINESS SETTING.
Vikas Kumar Tyagi
5. 3 Models of Management Ethics3 Models of Management Ethics
Three Types Of Management Ethics
Vikas Kumar Tyagi
7. Mechanisms for EthicalMechanisms for Ethical
ManagementManagement
Top Management CommitmentTop Management Commitment
Code of EticsCode of Etics
Ethics CommitteeEthics Committee
Ethics AuditEthics Audit
Ehics TrainingEhics Training
Vikas Kumar Tyagi
8. What is similarity between all of these-What is similarity between all of these-
Parmalat
Royal Ahold NV
Tyco international
Imclone
Enron
WorldCom
Vikas Kumar Tyagi
9. "It was like riding a tiger,"It was like riding a tiger,
not knowing how to getnot knowing how to get
off without being eaten."off without being eaten."-Raju. Ramalinga B.-Raju. Ramalinga B.
Vikas Kumar Tyagi
10. Satyam Computer Services Ltd /Satyam Computer Services Ltd /
Mahindra SatyamMahindra Satyam
Founded in 1987 byFounded in 1987 by B Ramalinga RajuB Ramalinga Raju in form of Sifyin form of Sify
Limited and in textiles.Limited and in textiles.
Awards he gotAwards he got
Ernst & Young Entrepreneur of the YearErnst & Young Entrepreneur of the Year
Asia Business LeaderAsia Business Leader
Golden Peacock AwardGolden Peacock Award
The company offersThe company offers consultingconsulting and informationand information
technology (IT) services spanning various sectorstechnology (IT) services spanning various sectors
listed on thelisted on the
New York Stock ExchangeNew York Stock Exchange
National Stock Exchange (India)National Stock Exchange (India)
Bombay Stock Exchange (India).Bombay Stock Exchange (India).
ByrrajuByrraju Foundation andFoundation and SatyamSatyam FoundationFoundation
Vikas Kumar Tyagi
11. ..
In 2009, B Ramalinga Raju resigned as the SatyamIn 2009, B Ramalinga Raju resigned as the Satyam
CEO, admitting to an accounting fraud to the tune ofCEO, admitting to an accounting fraud to the tune of
7136crore rupees7136crore rupees
Satyam had engaged PricewaterhouseCoopers as itsSatyam had engaged PricewaterhouseCoopers as its
auditors over past 10 yearsauditors over past 10 years
Raju stated that the aborted Maytas deal was actually aRaju stated that the aborted Maytas deal was actually a
last attempt to "fill the fictitious assets with real ones“last attempt to "fill the fictitious assets with real ones“
(In August 2009, IL&FS replaced as promoters of Maytas Infra.)(In August 2009, IL&FS replaced as promoters of Maytas Infra.)
In 2008, the Satyam board approved a US$ 1.6 billionIn 2008, the Satyam board approved a US$ 1.6 billion
acquisition of the Maytas Infra and Maytas Propertiesacquisition of the Maytas Infra and Maytas Properties
controlled by the Raju’s family.controlled by the Raju’s family.
Vikas Kumar Tyagi
12. What basically happenedWhat basically happened
Inflated cash/bank balance of Rs 5040 cr.Inflated cash/bank balance of Rs 5040 cr.
A accrued interest of 376 cr.A accrued interest of 376 cr.
An understated liability of 1230 cr.An understated liability of 1230 cr.
A overstated debtors position of 490 cr.A overstated debtors position of 490 cr.
Raju had also opened multipleRaju had also opened multiple benamibenami (dummy)(dummy)
accounts through relatives and friends and used themaccounts through relatives and friends and used them
to trade in Satyam's sharesto trade in Satyam's shares
Benami land deals and illegal transfer of shares..Benami land deals and illegal transfer of shares..
Satyam had only 40,000 employees and not aroundSatyam had only 40,000 employees and not around
53,000 as claimed by Ramalinga Raju. 'Every month53,000 as claimed by Ramalinga Raju. 'Every month
Rs.200 million (Rs.20 crore) was being withdrawn inRs.200 million (Rs.20 crore) was being withdrawn in
the name of non-existent employees.the name of non-existent employees.
Total expected personal gain by Raju was of Rs. 74Total expected personal gain by Raju was of Rs. 74
billonbillon
'Investigation has revealed that money has been used'Investigation has revealed that money has been usedVikas Kumar Tyagi
15. Effects of the scamEffects of the scam
Leaving an uncertain future for the company and its 40,000Leaving an uncertain future for the company and its 40,000
Satyam Computers could have removed from the Sensex andSatyam Computers could have removed from the Sensex and
NiftyNifty
World Bank barred Satyam from offering its computer servicesWorld Bank barred Satyam from offering its computer services
for eight yearsfor eight years
Indian associate of Merrill Lynch terminated an agreement onIndian associate of Merrill Lynch terminated an agreement on
grounds of "material accounting irregularities".grounds of "material accounting irregularities".
Satyam’s worth estimated at seven billion dollars fell to less thanSatyam’s worth estimated at seven billion dollars fell to less than
330 million dollars330 million dollars
Vikas Kumar Tyagi
16. On June 21, 2009, Satyam unveiled its newOn June 21, 2009, Satyam unveiled its new
corporate identity – “Mahindra Satyam.corporate identity – “Mahindra Satyam.
Ramalinga Raju is currently in a HyderabadRamalinga Raju is currently in a Hyderabad
prison along with his brother and formerprison along with his brother and former
board member Rama Raju, and the formerboard member Rama Raju, and the former
CFO .CFO .
They have been provided a VIP status in jail.They have been provided a VIP status in jail.
He suffered heart attack on 8He suffered heart attack on 8thth
sep. and wassep. and was
later taken to hospital (NIMS).later taken to hospital (NIMS).
Now he is in the same hospital.Now he is in the same hospital.
And the investigation is still going on.And the investigation is still going on.
Vikas Kumar Tyagi
18. Example setting -Example setting -
Reuben Mark ,the CEO of Colgate –PalmoliveReuben Mark ,the CEO of Colgate –Palmolive
calling Herb Baum , CEO of Dial corporationcalling Herb Baum , CEO of Dial corporation
over the Dial’s strategic marketing plan.over the Dial’s strategic marketing plan.
Vikas Kumar Tyagi
19. Where the problem isWhere the problem is
lying?lying?
Vikas Kumar Tyagi
20. YOU SHOULD ALWAYS FOLLOWYOU SHOULD ALWAYS FOLLOW
“I LIVE BY TRUTH THAT ‘“I LIVE BY TRUTH THAT ‘NONO’ IS’ IS
A COMPLETE SENTENCE”A COMPLETE SENTENCE”
Vikas Kumar Tyagi