SATYAM: BROTHERLY DEMISE THE RISE AND FALL OF RAMALINGA RAJU 1 TABLE OF CONTENTS COVER PAGE TABLE OF CONTENTS EXECUTIVE SUMMARY 1. BACKGROUND 2. RAMALINGA RAJU AND THE SATYAM SCANDAL 2.1 FACTORS LEADING TO THE FRAUD 2.2 AFTERMATH OF THE SATYAM SCANDAL 2.3 VICTIMS OF THE SCANDAL 2.4 CORPORATE GOVERNANCE ISSUES AT SATYAM 2.5 ETHICAL DILEMMAS FACED BY RAJU 1.1 INDIA IN THE GLOBAL ECONOMY 1.2 MERGENCE OF SATYAM COMPUTER SERVICES E 3. HOSMER’S SIX STEP PROCESS
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CASE STUDY: MARCH 2012 SEMESTER I. Analyze the case and respond to the following questions: a) Discuss the earnings management techniques employed by the management of Satyam. Earning management or creative accounting is referred to the manipulation or misrepresentation of the company’s financial earnings in order to achieve stable and positive financial position. This was achieve through directly or indirectly use of the accounting methods. Even though the manipulation may follow all
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ETHICAL PRACTICES Submitted to: Mr. Nirmalya B. Biswas Submitted by: Ashish S. Thomas EXECUTIVE SUMMARY: PwC is the second largest professional services firm in the world (after Deloitte) and one of the ’Big Four’ accountancy firms. About 50 % of PwC’s revenue comes from auditing. PwC had audited about 139 companies in India in the year 2008. Of this‚ 97 are listed and 45 were part of BSE 500 Index Including Satyam. Whenever we talk about Unethical governance in accounting practices the 1st
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ASSIGNMENT ON A CASE STUDY OF ANY COMPANY DOING FRAUDULENT ACTIVITY AND ITS FURTHER PROCEEDINGS SUBMITTED BY: Radha Gupta FPG/1113/023 COMPANY BACKGROUND:- Mahindra Satyam (formerly Satyam Computer Services) is an Indian IT services company based in Hyderabad‚ India. It was founded in 1987 by B Ramalinga Raju. Mahindra Satyam is a part of the Mahindra Group which is one of the top 10 industrial firms based in India. The company offers consulting and information technology (IT) services spanning
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Satyam Story: Many Lessons to be Learnt Ramalingam Raju along with 2 other accused of the scandal‚ were granted bail from Supreme court on 4 November 2011 as the investigation agency CBI failed to file the chargesheet even after more than 33 months of Raju being arrested. Raju had appointed a task force to address the Maytas situation in the last few days before revealing the news of the accounting fraud. After the scandal broke‚ the then-board members elected Ram Mynampati to be Satyam’s interim
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In the book counting by 7s‚ by Holly Goldberg Sloan‚ one of the big themes is that everyone changes‚ for better or worse. This big theme is supported by the incredibly constant‚ lifelike character development. A part of this theme about everyone changing is that one person can have a big impact on others. Dell‚ the middle school guidance counselor‚ changes a lot. His outlook on life and his motivations are much different by the end of the book. In the beginning‚ he is a total slob; he is unorganized
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Satyam Scam – Indian Corporate Fraud THE SATYAM SCAM… (RAJU NOT THE GENTLEMAN) India’s Enron ‚ the biggest corporate fraud of Indian History The recent disclosure by the chairman of Satyam Computers‚ Ramalinga Raju uncovered the biggest corporate fraud of India which by some has been regarded as similar to Enron. The letter sent by Raju to the board of Satyam ‚regulator‚ exchanges shocked the whole country and company’ s share at the exchanges hitted a life low of 30 from the intraday high
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A New Focus for McKinsey Rajat Gupta‚ a 20-year veteran committed to decide to put emphasis on knowledge development‚ launched a four-pronged attack to help McKinsey to build up their long tern capital. First‚ he capitalized the firm’s long tern investment by creating come new channels and forums for knowledge development and organizational learning. Second‚ he created a Practice Olympic to encourage regional offices to extend ideas that grew out of client engagement. Third‚ he assigned senior
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internal and external networks. “Employees’ willingness to take risks very much depends on the existence of a ”noblame” culture. A strong culture fosters innovation only if it is built on norms such as accepting failure…” (Goffin & Mitchell‚ 2005‚ s. 265). ”Multifunctional learning fosters innovative and learning by doing on the part of the employees and help them keep up to date with the latest developments. It also serves as a basis for creating a climate that can bring about organizational
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Name: Mr. Hiten S. Panchal Std.: M.M.S. – I Div.: A Roll No.: 643 Sub.: Marketing Applications & Practices Project: Satyam Saga SATYAM SAGA Introduction: On 7th January‚ Wednesday‚ Satyam Computer Services Chairman B Ramalinga Raju resigns and disappears after confessing to the largest fraud of Rs. 7‚136 crore in Indian corporate history. He admitted to committing a gigantic fraud that shook corporate India and the stock markets to the core. In a letter to the board‚ Raju‚ 54‚ unburdened
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