What will you learn from this book
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Satyam Scandal Unveiled: Insights into the shocking revelation of accounting fraud and the circumstances leading to the exposure of the scandal at Satyam Computer Services.
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Ramalinga Raju's Story: Detailed narrative exploring Ramalinga Raju's rise as a corporate leader, his role in Satyam, and the decisions that led to the scandal.
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Corporate Governance Failures: Analysis of the lapses in corporate governance, internal controls, and auditing practices that allowed the fraud to persist undetected for an extended period.
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Impact on Stakeholders: Understanding the implications of the Satyam scandal on employees, investors, clients, and the broader IT industry.
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Legal and Regulatory Repercussions: Discussion on the legal proceedings, investigations, court cases, and the regulatory aftermath following the exposure of the fraud.
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Ethical Dilemmas: Examination of the ethical dilemmas faced by corporate leaders and the consequences of unethical decisions on businesses and stakeholders.
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Media and Public Response: Insights into the media coverage, public reactions, and perception of the Satyam scandal both nationally and internationally.
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Lessons in Governance and Transparency: Emphasis on the significance of governance, transparency, and ethical practices in corporate leadership and the lessons learned from the scandal.
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Rescue and Revival Efforts: Narratives about the measures taken to rescue Satyam from collapse and the subsequent acquisition by Tech Mahindra.
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Long-term Impact: Reflection on the long-term impact of the Satyam scandal on corporate India, corporate governance norms, and the IT industry.
| Language | English |
|---|---|
| ISBN-13 | 9788172239084 |
| No of pages | 172 |
| Font Size | Medium |
| Book Publisher | Collins |
| Published Date | 21 Oct 2009 |
About Author
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How an IT czar ran a $ 2 billion company to the ground .The story of the rise and fall of Ramalinga Raju, promoter of the blue-chip software company Satyam, has no parallel in Indian corporate history. He created a $ 2 billion company in a short period of time, only to leave it penniless. At the heart of the scandal lay the IT barons craving for land (his familys traditional business). To satisfy it, Raju pawned his shareholding in Satyam as well as in his real estate company, Maytas Infra, and allegedly siphoned off funds from both companies. In an elaborate cover-up, Raju also fudged Satyams books to inflate its revenues and profits, to increase the value of its shares.
Raju was able to do this for eight years-until the recession hit in 2008 and the bubble blew in his face.Having come into the IT industry by accident-he was not a technology professional himself-Raju became the toast of Hyderabad as he built a company spread across sixty-six countries in five continents. Close to the powerful and the rich, Raju also created a parallel real estate empire, going on to successfully bid for the Hyderabad metro rail project, the one act that brought his house of cards crashing down.
How did Raju amass his IT and real estate empires? How could he hoodwink the law, the shareholders, and his employees for so long? This unputdownable fly-on-the-wall narrative, written with incisive depth by Kingshuk Nag, resident editor of the Hyderabad edition of The Times of India, captures the dramatic story of Rajus life.