As many know the biggest scam in
the history of India’s corporations has come to light. Satyam Computers, the
country’s fourth largest IT Company stands on the brink of termination. More
recently in the news for the failed takeover attempt of its sister company Maytas; Satyam is now staring into an
abyss of anger and shame. Shareholders have dumped the stock left, right and centre.
In every sense Satyam has managed to become India’s ENRON. It has blatantly
cooked its accounts to show non existent revenues. We take a look at how this
scam came about.
Nobody takes shareholders for a
ride – that’s the message that’s gone out loud and clear to the owners
and promoters of Satyam Computers,
one of India’s biggest and formidable IT companies. A corporate fiasco that
began as little as a day ago has ended abruptly with the Board of Satyam
throwing in the towel against a vastly growing majority of their own
shareholders.Satyam’s decision to acquire Maytas
Infra Limited was a very difficult decision to swallow for the shareholders.
Questions were asked about the need of the acquisition. More importantly, how
exactly was the company justified in spending a lot of money on a family owned
company?
As many know the biggest scam in
the history of India’s corporations has come to light. Satyam Computers, the
country’s fourth largest IT Company stands on the brink of termination. More
recently in the news for the failed takeover attempt of its sister company Maytas; Satyam is now staring into an
abyss of anger and shame. Shareholders have dumped the stock left, right and centre.
In every sense Satyam has managed to become India’s ENRON. It has blatantly
cooked its accounts to show non existent revenues. We take a look at how this
scam came about. 
Nobody takes shareholders for a
ride – that’s the message that’s gone out loud and clear to the owners
and promoters of Satyam Computers,
one of India’s biggest and formidable IT companies. A corporate fiasco that
began as little as a day ago has ended abruptly with the Board of Satyam
throwing in the towel against a vastly growing majority of their own
shareholders.Satyam’s decision to acquire Maytas
Infra Limited was a very difficult decision to swallow for the shareholders.
Questions were asked about the need of the acquisition. More importantly, how
exactly was the company justified in spending a lot of money on a family owned
company? 