The document summarizes the corporate governance failure at Satyam Computer Services. Satyam was founded in 1987 and became one of India's largest IT companies before a major accounting scandal emerged in 2009. It was revealed that the accounts were falsified and the company's cash balances were inflated by billions of rupees. The scandal severely damaged investor confidence in India's corporate governance practices. Eventually, Satyam was acquired by Mahindra Group in 2009 in an effort to restore its reputation and operations. The Satyam scandal highlighted the need for stronger legal compliance, auditing practices and oversight of corporate boards in India.
This presentation is on satyam scam & was created for educational purpose.this presentation include various aspects of satyam scam such as satyam Company Profile, satyam Achievements , Overview of the satyam scam, How the satyam scam started to unravel, Modus operandi of satyam scam, Impact Of satyam Scam, Regulatory action etc.
The scam by Satyam computers shook the country when the chairman had confessed that all their accounts were falsified in order to impress the investors
This presentation is on satyam scam & was created for educational purpose.this presentation include various aspects of satyam scam such as satyam Company Profile, satyam Achievements , Overview of the satyam scam, How the satyam scam started to unravel, Modus operandi of satyam scam, Impact Of satyam Scam, Regulatory action etc.
The scam by Satyam computers shook the country when the chairman had confessed that all their accounts were falsified in order to impress the investors
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.
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http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
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6. Coporate governance may be defined
as holding a balance between
economic and social goals and
between individual and commercial
goals. A good corporate governance is
one where a firm commits and s
encompassing employee, customer,
venders, and shareholders in both
good and bed times.
10. Satyam computers services ltd.was founded
on 27 june 1987 the company offers
information technology (IT) services
spanning various sectors, and is listed on the
New York Stock Exchange and Euronext.
11. Satyam’s network covers 67 countries across
six continents. The company employees
50,000 to 53,000.
IT professionals across devlopment centers
in India, the United States, the United
Kingdom, the United Arab Emirates, Canada,
Hungary, Singapore, Australia and many
more.
It serves over 654 global companies, 185 of
which are fortune 500 corporations.
15. 1987 (Incorporated as private limited
company in 1987)
1991 (Recognized as a public limited
company; debuts on the Bombay Stock
Exchange (BSE) )
(IPO oversubscribed by 17 times.)
1993 ( Satyam signs joint venture with
Dun & Bradstreet for IT services.)
(Joint venture with GE announced.)
• 1999 (Satyam Infoway (sify) becomes
the first indian internet company
listed on (NASDAQ) )
16. ( Satyam forms joint venture with TRW Inc.)
(Presence established in 30 countries.)
• 2007 (Becomes the official IT services
provider for the FIFA world cup.
• Announces acquisition of UK-based nitor
global solutions limited.
• Becomes the first asian company to feature in
the training magazine’s list of top 125
companies for learning.
18. • Satyam scam was not any easy issue. It has its
own complexities as it involved 14000 crore
scam.
• Satyam scam had been the example for
following poor governance practices.
• It had failed to show good relation with the
share holders and employees.
• So as to throw a light on the poor governance
practice at one of the major IT giants, the
need to study such case is model, it could be
suggested that there is a need to frame up
good governance rules and see to the proper
implemantation of it.
21. Mr. Ramalinga Raju, CEO at the time of the
scam was Mr. Ram Mynampati and CFO was
Mr. Valdamani Srinivas.
Satyam computer services limited has its
headquarter at hyderabad.
Satyam computer services ltd has several
subsidiaries :
A. Satyam BPO
B. Citisoft
C. C A Satyam
D. STI
E. Bridge Consultancy
24. In mid-december 2008, satyam announced
acquisition of two companies- Maytas
properties and Maytas Infrastructure.
Owned by the family members of satyam’s
Founder and Chairman.
It planned to acquire 100% and 50% stakes
in Maytas Property and Infra. $ 1.6 B.
Due to adverse reaction from institutional
investors and the stock markets, the deal
was withdrawn with in 12 hrs.
27. Inflated figures for cash and bank balances
of INR 5,040cr. (as against INR 5,361cr.
Reflected in the books.)
Operating profit were artificially boosted
from the actual 61cr. To 649cr.
Satyam also showed an interest earning of
Rs. 376 cr. That was fictitious.
An over stated debtoursposition of Rs.2651
reflected in the books.
29. Dec’08 brought news of pending litisgation
by a former client, online mobile-payment
service unpaid systems which field a case of
intellectual fraud and forgery against satyam
in 2008.
On dec. 16, when raju announced the
company would spend $ 1.6 billion to buy
Maytas only to reverse the decision a few
hours later under share holder pressure.
31. It is not a mere co-incidence that maytas is
satyam spelt in reverse way.
Maytas is actually run by satyam family. It
include maytas properties & maytas infra ltd.
Maytas was a 2 decade old company. It had
been doing remarkably well in the past 6-7
years and projects worth billions were riding
upon them.
33. All well that’s end well.
Anand Mahindra- New Owner of Satyam.
Post Rs.2890 crore as takeover.
On 13th Apr 2009, VIA formal public auction
process, 46% stake in satyam was purchase by
Mahindra.
July 2009, satyam Rebranded its service as
“MAHINDRA SATYAM”.