Satyam Scam (2009):
Indian investors and shareholders were badly affected by the scam involving Satyam Computer Services. The Satyam Scam involved Rs. 14,000 crore and was one of the biggest scams in the corporate world. Former Chairman Ramalinga Raju was involved in the scam, who kept everything under cover. He later confessed of falsifying the company’s accounts by US $1.47 billion. Later in the year, 46% share of Satyam was bought by Tech Mahindra, who absorbed and revived the company.
Indian investors and shareholders were badly affected by the scam involving Satyam Computer Services. The Satyam Scam involved Rs. 14,000 crore and was one of the biggest scams in the corporate world. Former Chairman Ramalinga Raju was involved in the scam, who kept everything under cover. He later confessed of falsifying the company’s accounts by US $1.47 billion. Later in the year, 46% share of Satyam was bought by Tech Mahindra, who absorbed and revived the company.
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