This document summarizes the Satyam fraud scandal that occurred in 2009 in India. It describes how Satyam's founder, B. Ramalinga Raju, confessed to inflating the company's revenues, cash balances, and other financial details by over $1 billion US dollars. As a result of the confession, Satyam's stock price plummeted, investors and employees were impacted, and the company was eventually acquired by Mahindra Group. The scandal shocked the Indian IT industry and had major financial and legal consequences.

1. THESATYAM FRAUD

2. GROUP MEMBERS SHIVANI GOHIL 03 RUBY AGARWAL 24 ANAGHA KALAMKAR 17 BHAKTI SUKHTHANKAR 49 SAYALI MANJREKAR 26 PRATIKSHA MANGAOKAR 25

3. introductionIt was found in 1987 by B.Ramalinga Raju.

4. location.

5. Board of directors.

6. service offered

7. Conversion into public company.

8. Satyam network

9. Satyam employers

10. 1st internet service provider

11. achievements2007:- Becomes the 1st Asian company to features in the training magazine’s list of top 125 companies for learning.

12. 2008:-won corporate governance (including Golden Global Award twice).How did it happened?Floated two other companies for their own purpose .

13. Without taking permission of the shareholders.

14. Failed to repay the loans.

15. Transfer of money.Satyam computers were banned.

16. Sold of shares.

17. Resignation by Ramalinga.Understanding the scam!The Balance sheet as of September 30, 2008 showed-

18. Inflated (non-existent) cash and bank balances of Rs. 5040 cRore (as against Rs. 5312 core reflected in the books)

19. An accrued interest of Rs. 376 cRore which is non-existent

20. An understated liability of Rs.1230 cRore on account of funds arranged by BR RAJU.fraudAn overstated debtors position of Rs. 490 cRore (as against Rs. 2651 cRore reflected in the books)