Satyam India's Enron : How the Scandal Unfolded

Brief of Satyam Computer
On 24th June 1987, Satyam Computer was incorporated as private limited company for providing software development and consultancy services to large corporation. The company was promoted by B Rama Raju and B Ramalinga Raju.
In 1991, Satyam Computers became the first Indian company to provide offshore services. His first major client John Deere, was skeptical about outsourcing to Satyam, but Raju`s simple extensive management module convinced it.
What started as humble beginning in 1990`s by the end of the decade catapulted the Satyam Computer into the big league of IT companies in India. Satyam became the fourth largest IT Company.
‘Humpty Dumpty had a great fall’, Satyam computer image got severe hit that  can never be mended when its promoter accepted in writing to SEBI about the fudging of books of account of the company for showing inflated profit. Investor lost all out faith in the working of the company and dumped the share of the company. Satyam share price had a free fall on 07 Jan 2009 and it closed about 80% down from the previous day close price at Rs40. Chart shown below


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