Tag archive: Satyam

At the beginning of 2008, giant Indian technology company Satyam was rocked by fraud charges, with the chairman of the company resigning after admitting the company had been cooking its books for years to hide a billion-dollar shortfall between its on-the-books earnings and what it was actually pulling in. The failure sent shockwaves through the Indian technology industry, with some wondering whether the country's fledgling computing… Read More

In a scandal many industry watchers are comparing to the demise of the U.S. energy trading firm Enron, the chairman of India's Satyam Computer Services, B. Ramalinga Raju, has resigned after publishing a five-page letter detailing years of fraudulent accounting designed to boost the company's bottom line…and obscure a billion-dollar revenue gap. The company inflated its value by placing non-existent assets on its books… Read More