ion on satyam scam final123

8/3/2019 ion on Satyam Scam Final123

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INDUSTRY PROFILE

COMPANY PROFILE

SATYAM CASE FINDINGS

SOLUTION

CONCLUSION


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Cornerstone of the Indian economy.

Source of employment

Growth of economyParticulars Rupees

GDP and EXPORT EARNINGS 5.19% in 2009

Particulars Rupees

EMPLOYEMENT 2.5 million


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Leading Global IT company .

Founded in 1977

Became Public limited Company in 1992

Listed in BSE, NSE, EURONEXT( AMSTERDAM)

Domain expertise

First Indian IT Company to get ITAA Certification for

Y2K Solutions Employment

Network


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YEAR PARTICULARS1987 Satyam Computers Pvt Lvd was established.

1991 -June: First Fortune 500 clients.-August: Converted into Public Ltd Co.

1994 THE BIG BREAK: Allies with Dun and BradstreetCorp.

2000 -Declared one of the 100 most PioneeringTechnology Companies by World EconomicForum-Dataquest IT Man of the Year Award.

2002 -CNBCsAsian Business Leader Corporate Citizen

of the Year Award


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The Black day: 7th January, 2009

Accounting Fraud of over 7800 crore rupees.

From past 7 years accounting books werecooked


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Raju Raju sat on the wallRaju Raju had a great fall

Balance sheet died,Shareholders cried

Raju Raju made a fraud

Raju RajuYes baba

Cheating usNo babaTelling lies

No babaOpen the balance sheet

HA! HA! HA!


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Raju wrote in the confession letter

Every attempt to fill the gap failed.

It was like riding a tiger, not knowing how to get offwithout being eaten.


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Gap in The Balance sheet

Maytas Acquisition Failed.

Shortage of Finance


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Fake Company Letters and Receipts.

Fake employees. Unverified acknowledged copy of Debtors

and invoices

Huge bank balances not verified byauditors of the company.


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Employees

ClientsShareholders

Bankers

Indian Government


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- NO


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Confidence.

Contribution in Indian ITSector.

Future Prospects.

New Work Force.

Pass Records.


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Tech Mahindra is paying Rs1757 crorefor a 31% stake in the company, or Rs 58per share.

Satyam Computer Services has now zoomed 15%to Rs 54.20 ahead of theannouncement of the highest bidder forthe company on April 13, 2009.

In India this moment was full of praisefor the manner and speed with which thereconstituted board of Satyam ComputerServices found a strategic investor .


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Sustainable Competitive Advantage.

Creating Corporate Governance.

Transformed Organization Culture. Long Lasting Credibility.

Improving Code of Conduct.

Individual Ethical Reasoning.


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Strict Rules by ICAI on handlingFinancial Statements.

Penal provisions for auditors.Auditors should ensure the numbers

are True and Fair View


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Tighten corporate norms.

Government took actions

Prohibition of promoters interference. Independent directors

Effective whistle blowing policy.


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Corporate Governance Framework needs to beimplemented in letter as well as spirit.

The increasing rates of White Collar Crimes

demands stiff penalties and punishment. The Small distortions created by few immoral

executives lad far reaching negativeConsequences.

Hopefully, Creating an awareness of the largeConsequences of small lies may help some toavoid this trap.


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www.wikipedia.comwww.authorstream.com

www.slideshare.com

Business World
http://www.wikipedia.com/http://www.authorstream.com/http://www.authorstream.com/http://www.slideshare.com/http://www.slideshare.com/http://www.authorstream.com/http://www.authorstream.com/http://www.wikipedia.com/


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Priya Ahuja 4

Mansi Bathija 11

Geeta Bhatia 14

Kushal Bothara 16 Lavina Chandwani 19

Forum Doshi 32

Reshma Lilani 58

ion on satyam scam final123

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