The document discusses the roles of two CFOs - T.V Mohandas Pai of Infosys and V. Srinivas of Satyam. Pai played an influential role in transforming Infosys into one of the world's most respected software companies through articulating strong financial policies and transparency. He helped Infosys become a reputed brand and win awards for its financial reporting. In contrast, Srinivas admitted to aiding Satyam's chairman in falsifying accounts by creating fake records and jobs. His actions raised doubts about being aware of the impending fraud that ultimately destroyed shareholder wealth. The document shows how a CFO can either maximize shareholder value or destroy it.
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.
Dirubhai Ambani and his contribution to Indian Economyraghavendramoxit
The presentation here is a brief description of Dirubhai Ambani's work and his successful contribution to the Indian economy and enhancement of people's lives.
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.
Dirubhai Ambani and his contribution to Indian Economyraghavendramoxit
The presentation here is a brief description of Dirubhai Ambani's work and his successful contribution to the Indian economy and enhancement of people's lives.
With several influential entrepreneurs, India is leading toward becoming a fully developed country soon. Here is a list of top 10 entrepreneurs of India who all contributed to the Indian economy and development with their innovative business
ventures. It's their hard work and dedication that made them occupies a place in this list. From Deep Kalra to Falguni Nayar each one of them started from a unique idea and turned it into a leading business venture.
For more info refer visit:- https://www.drilers.com/post/top-10-entrepreneurs-of-india
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.
Success and failure stories of family owned business houses in IndiaBishal Nag
Indian Industries has a large number of family owned business houses.Three such corporates where the business has gone from one generation to another.Their success and failure stories
Who failed infosys, Corporate Governance or Management Quality?JAYARAMAN IYER
Infosys recently has to go through what Volkswagen and Tata Sons had to in the near past, change at the top. This article brings out the difference in understanding Corporate Governance and Management Quality vis-a-vis insight into Infosys. What steps Infosys take becomes crucial as to how they bring the abstractions into reality, how they acknowledge value where value is due, and how they deconstruct what is valueless. The article offers a solution as to how to measure Intangible. Recommends Return on Intangible as the main management tool instead of Return on Investment.
My Presentation on the Corporate Entrepreneurship seen at WIPRO. It starts with a brief idea of how WIPRO started, the opportunities utilized, the challenges faced and how those issues were ingeniously resolved.
This was presented as part of the Corporate Entrepreneurship Course by the B.Tech + MBA batch (Dual Degree) (2010-2015), Amity University, comprising of ACHYUT CHANDRA, NEIL MATHEW, SHIKHAR AGNIHOTRI, SHOUMIK GOSWAMI and UTSAV KHURANA.
With several influential entrepreneurs, India is leading toward becoming a fully developed country soon. Here is a list of top 10 entrepreneurs of India who all contributed to the Indian economy and development with their innovative business
ventures. It's their hard work and dedication that made them occupies a place in this list. From Deep Kalra to Falguni Nayar each one of them started from a unique idea and turned it into a leading business venture.
For more info refer visit:- https://www.drilers.com/post/top-10-entrepreneurs-of-india
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.
Success and failure stories of family owned business houses in IndiaBishal Nag
Indian Industries has a large number of family owned business houses.Three such corporates where the business has gone from one generation to another.Their success and failure stories
Who failed infosys, Corporate Governance or Management Quality?JAYARAMAN IYER
Infosys recently has to go through what Volkswagen and Tata Sons had to in the near past, change at the top. This article brings out the difference in understanding Corporate Governance and Management Quality vis-a-vis insight into Infosys. What steps Infosys take becomes crucial as to how they bring the abstractions into reality, how they acknowledge value where value is due, and how they deconstruct what is valueless. The article offers a solution as to how to measure Intangible. Recommends Return on Intangible as the main management tool instead of Return on Investment.
My Presentation on the Corporate Entrepreneurship seen at WIPRO. It starts with a brief idea of how WIPRO started, the opportunities utilized, the challenges faced and how those issues were ingeniously resolved.
This was presented as part of the Corporate Entrepreneurship Course by the B.Tech + MBA batch (Dual Degree) (2010-2015), Amity University, comprising of ACHYUT CHANDRA, NEIL MATHEW, SHIKHAR AGNIHOTRI, SHOUMIK GOSWAMI and UTSAV KHURANA.
Tturing and demergehis report helps in understanding corporate restructuring and demerger concept via Max India. It gives insight on the demerger and also critically analysis the after effects of the demerger.
Superseva: Building a successful service businessBrowne & Mohan
Superseva is an enterprise services company offering concierge, Rewards & recognition, employee engagement services to corporates. It also offers personalised services to employees of client organizations. This case presents the evolution of the company under the dynamic leadership of its CEO, Ms Kumud Sharma.
Globally, the number of startup companies has rapidly expanded during the last 5-8 years. Offering
products and/or services that greatly enhance the lives of its clients is a major focus for these firms. In India,
local and federal government initiatives have provided new enterprises and entrepreneurs with much
momentum and assistance, helping India become the world's top startup location. The Government of India
(GOI) launched the "Startup India" campaign in 2015 to promote entrepreneurship and support businesses to
achieve this goal (Babu, S., Sridevi, K.,2019). An IBM Center for Business Value and Oxford Economics study
in 2018 found that 90% of Indian companies fail within the first five years of operation. Potential difficulties
that startups may run across, both generally and specifically in the Indian market, have been described by
several authors.
The 10 most trusted non banking financial companies to watch in 2019 compressedMerry D'souza
Insights Success introduces "The 10 Most Trusted Non-Banking Financial Companies to Watch in 2019", in order to assist the business to choose the right companies.
1. CFOs: What are they Pursuing?
The CFO of a company has the primary role of building the long-term financial vision of the
company. Infosys‟ former CFO, T.V Mohandas Pai has been associated with the company since
1994, playing an active role in its performance and growth. He had headed the finance function
for more than a decade i.e., since 1994 to 2006. Pai had played an influential role in the core
team that worked on listing Infosys on NASDAQ in 1999. Under his supervision, Infosys has
transformed into one of the world‟s most respected software companies. Pai believes, “Our aim
is to be among the best companies and also become the most respected company in the
world.”[30]
Pai worked on articulating the company‟s financial policies, and helped the company to become
a reputed brand among the investors by enhancing transparency and disclosure mechanisms. In
Pai‟s words, “We have created a robust financial model which has consistently enabled us to
meet the challenges of growth and profitability.”[31] The standards he has set in preparing the
company‟s annual reports, helped the company‟s annual report to win „Best Presented Annual
Accounts‟ award from the ICAI continuously over the years from 1999. He has been awarded
„Best CFO in India‟ by Finance Asia in 2002 and „Best Chief Financial Officer in India‟ in the
Best Managed Companies poll conducted by AsiaMoney in 2004.[32] In 2006, he voluntarily
stepped down as CFO, to head the human resource, education and research operations of the
company. His successor Vibin Balakrishnan, former company secretary and vice president
finance, who became the CFO in 2006 (joined the company in 1991), is also playing active role
in making the company stable and successful.
On the other hand, the CFO of Satyam, V. Srinivas carried on his duties as the head of finance
function purely highlighting the interests of the head of the company. During his interrogation by
ICAI after his arrest, Srinivas had admitted his active role in aiding the chairman in fudging and
falsifying the accounts by forging and creating fake records. He even confessed that he had
created some 10,000 fake jobs since 2004 and drawn about INR 20 crore per month from these
non-existent accounts.[33] Besides this, his acts such as selling of his
ESOP holdings of 92,358 shares of Satyam in September 2008 (few months before the scam) had
raised many doubts that he was aware of the coming events. Srinivas along with G Ramakrishna
accepted that their team used to prepare false documents to cover the fraud of their chairman.
The investors were disappointed and lost trust in the company. An Institutional investor
commented, “The CFO should have been aware of the financial irregularities, including fudging
of the earnings figures.”[34] Another investor commented, “As CFO of the global software
major, Srinivas would have been privy to all the transactions taking place in the company over
the years”.[35] Shareholders wondered whether the CFO worked to further the interests of his
boss (CEO) and his cronies or for them. Even the business media questioned the CFO‟s role in
the entire Satyam Computers fiasco that Satyam‟s fraud is an odd-man out in Indian IT industry
(Annexure V). Puneet Kumar, manager, Wipro, opined, “Satyam was an aberration, the fact is
that the IT industry thrives on good reputation and every major in the business lays great
emphasis on maintaining global standards of corporate governance. ”[36] Hence, the two
different scenarios clearly indicate how a CFO can maximise the wealth of the investors and on
the other hand can also destroy the wealth of the shareholders.